How Much Whole Life Insurance Do I Need? 
There is not set answer to that question . A lot depends on your age , responsibilities , tax situation , etc. . For many people they only need around $ 15,000 to cover all funeral , cemetery , medical bills , and money to settle their estate . But even that depends on your age as the cost of everything -LRB- including funerals double every 15-years give or take . For other people such as a guy that took a pension or annuity based on his life only -LRB- not his spouses -RRB- he needs a LOT more whole life insurance to keep his wife from falling into poverty if he dies first . There are many different situations for different people . 