How Much Life Insurance Do I Need In Retirement? 
Some reasons you might need/want life insurance in retirement are : 1 -RRB- To pay for funeral or memorial service , grave site , transportation for family to attend your funeral , etc. 2 -RRB- To pay for outstanding personal or business loans . 3 -RRB- To pay off mortgage . 4 -RRB- To pay off credit cards . 5 -RRB- To pay estate taxes , probate costs , and other costs of settling your estate . 6 -RRB- To leave an inheritance . 7 -RRB- To transfer ownership of business or property . 8 -RRB- To provide retirement income for yourself -LRB- this would need to be a cash value policy started years before retiring -RRB- 9 -RRB- To provide money for living expenses for your surviving spouse or other dependents . 10 -RRB- To provide a gift to a charitable organization . The amount of life insurance you need in retirement will depend on which of these or other needs/desires you have , and the amount needed to fulfill those . 