Buttercup
David the wonder CPA is better qualified than I to crunch the numbers etc on life insurance, but there is a fundamental question you need to answer first. Will your survivors NEED to replace the income you bring in? No amount of money can replace the love and caring you provide. The Life insurance companies have hoodwinked most people to see it as some obligation to leave a windfall. It is meant to replace income. Taking a somewhat different tack on Brian's advice to live in the now, I suggest you ask yourself if the additional premiums you will spend on life insurance could be better enjoyed now. A trip with your loved ones, etc etc. If your assets cover funeral etc and your beneficiaries are not dependent financially upon you, seriously analyze how much life insurance you need if any at all. Everyone is different and I have been and remain the sole financial support of my family, so I have no choice. Often times, spouse do and my lovely wife laughs at the insurance pitches she receives.
But the emotional comfort of "providing" counts also.
Whew long winded way of saying you cannot make a mistake here, so do not worry. CONGRATULATIONS on being so close to the magic 5. I need to restart my clock, drat it