TheDude, thanks for your input. I'm sure I would be fine if something were to happen to him. We also have good support networks between the two of us - his family is here and would be immediately helpful, while my family is far away, but would be financially helpful. (I know it's not smart to rely on people to bail you out, but my parents have helped me out in crises before, and would probably do so again, should a crisis occur.)
I have a whole life policy of my own that was taken out when I was six months old. It costs me $108.50 per year, which I am comfortable with.
I just want to make sure we're doing the right thing here, is all.
John (I read your post after I typed my earlier reply): if my husband were to die today, I would be understandably devastated; but as far as our finances go, I'd be able to pay all the bills with my own salary. Some re-balancing would be required, obviously, but our mortgage payment is so low, I wouldn't lose my house. And with no children to educate and only myself and the dog to feed, I'm sure we'd be fine, financially speaking.