How Much Life Insurance Do I Need When I Retire? 
Besides the amount of life insurance you might want to purchase to supplement your retirement income ; or to help pay bills if you become critically , chronically or terminally ill ; you should consider the amount of final expenses you will have upon death . Perhaps you want to leave your home mortgage free for your spouse . You may want to pay travel expenses for your children living out of the country , so that they can afford to attend your funeral . Some people buy life insurance to pay estate taxes , or to leave an inheritance for grandchildren . There are many needs that life insurance can meet in a tax friendly way , even during retirement . 