Term Life Insurance Shopping - Do I Even Need It Now?

[RetireOrDieTrying]

So, this one might be a bit strange.

I'm 53, single, no kids. Early in my FIRE journey, although I'm pretty hard at it (about $180k, going up roughly $10k/mo). I already have a $250k term policy which expires in 2031. It's currently set to go to my sister as beneficiary.

No need for anything else, right?

Here's the deal - I really want a family. Should I be successful in this endeavor, I would want them to not struggle right away if I pass. Since insurance goes up as I get older, I'm thinking to go ahead and get a higher-coverage term policy (15 years?) so that I can lock in a lower rate and a smidgen longer term than I have now, as the premiums might be higher later when/if I actually have said family underway. This idea would bridge between now and when my savings would be enough to make insurance not as critical.

Certainly, if I don't end up having a family, it's 100% a waste of money, as my sister will get my current insurance and savings, and there ain't nuttin' else to worry about, so this entire discussion is definitely speculative.

I'm looking for two items of feedback:

1) Am I thinking about this correctly? Should I wait? Should I not wait? Should I get a longer/shorter term? Have I done badly at math and I shouldn't bother at all?
2) What are your term life shopping tips, presuming y'all don't talk me out of this?

I did a search already and found some very old threads with outdated websites and so forth, but I'd like guidance for my particular situation.

[seattlecyclone]

In general if there's nobody who would be put in a hard spot financially as a result of your death, life insurance is unnecessary. So as it is now I don't see that you really need life insurance.

You say you "want a family." What does that look like? Marry someone? Have a kid or three? Maybe marry someone who already has a kid or three? If those things come to pass then your need for life insurance might change, but then again it might not. Perhaps you marry someone who is already gainfully employed with savings of their own. If they went back to being single after you pass away, inheriting your existing stash would be enough to let them get back on their feet again.

There's also social security to consider. If you did end up leaving young children behind they (and your surviving spouse) would be entitled to some survivors benefits (through high school for kids, and until the youngest is 16 for your spouse). Take a look at your social security account online to get a sense for how much this would be. It's possible that you'd be pretty comfortable with them getting this amount plus your savings, and wouldn't see a need for more life insurance.

This is all pretty speculative anyway. You've made it to 53 without finding that special someone and having kids. Is this desire to have a family more of a recent goal? Are you making a concerted effort to find a partner, above and beyond what you've been doing for the past 30-plus years? How are these efforts going?