I had a life policy linked the mortgage which paid out to clear the mortgage balance on term, had a nice profit left that was invested as well as extra income over the years, never renewed life insurance no need. money in the bank* no debt, and if I cash out too soon the wife has funds to life on + pensions, downsize etc, and it won't be my problem(or hers if vice versa), child will get whatever we leave. Never considered more insurance but each case is different,if you go what will provide income?
*Bank-financial investments as well as cash.