Life Insurance is one of the most important things you can purchase, even if you are single. Although you don’t have to plan for a surviving spouse or child, the burden of your funeral costs and burial might fall on your family. By having a solid life insurance plan, you will be making it a lot easier on your loved ones. The average funeral costs between $7000 and $10,000. Other than high costs of funerals there are several other reasons you should have life insurance as a single person.