Life Insurance. I Have None. Do You?

Reviving this thread since it's been 6 years and I am not sure if much has changed in the game of insurance buying.
New York Life is offering me and my wife $500,000 each for $25/mo. with an option to add our son for $2/mo. for a $25,000 policy.
A quick search through Geico and got a few numbers that come out to like $30/mo. for a $600,000 policy for me (would have to check for more info about adding my wife, child).
We do all the other insurance through All-State, so I need to ask them what they can do for us...but does any of this sound good?

 

Uh, yeah, those numbers sound damn good. You're either young or in extremely good shape -- or both.

 

I'm still doing some shopping (and of course, those numbers will probably inflate after they find something...anything...wrong with me) but we are debating between doing a 10-year term and then bumping it up to universal coverage later or else maybe once we get some bills paid off just start paying in the new year. It would be $217/mo. to cover all 3 of us for the rest of one of our lives.
Seems like a decent deal, especially since I am nearing middle-age.