The important question: If your husband were to die, how much would you need to take care of yourself and your children? This takes into consideration how much you earn, how much you'd need to continue your (revised) goals for retirement and the kids' education. Think, too, about whether you'd need to hire help for the tasks that you're now able to complete because there are two of you.
Then the same question for him: If you were to die, how much would he need?
If both of you were to die, what would the kids' caregiver need?
And then think about disability insurance. The nightmare scenerio isn't a parent dying: It's a disabled parent living. Imagine one of you is injured badly and needs expensive medical care, perhaps even nursing home or rehab care for a time. That parent isn't earning, isn't helping with the household work and child care ... BUT is generating expensive medical bills ... AND life insurance isn't kicking in. And this situation is more common than a young parent dying.