I'm 43, wife is 41, kids are 14 and 10. Current NW is about $300k, invested assets $250k. We both have pretty stable jobs.
We have $40k in student loans ($882/month), and $250k mortgage (30-year, 3.5%, $1812/month) on a $330k house.
We currently have two policies, $500k each, 20-year term, we're 3 years in. Total cost is $91/month. I also have a non-optional 2 years' salary worth of coverage through work (so, currently, $218k). And if either of us were to die, there would be SS payments for the spouse and surviving kids, too.
We just got on the path to FIRE 2.5 years ago and our NW has increased at a rate of $105k/year since then. Stash contributions are about $60k of that.
I'm feeling like it may be time to drop the life insurance (at least on me, but maybe on both of us). Would welcome any thoughts or opinions on this!