I wouldn't get a policy if I was single, and if I did, it would be term and small like less than $50k just to cover burial expenses.
My wife and I each have a 30 yr $500k term life insurance policy (bought 3 yrs ago) to cover for each other's income if something tragic happens to one of us. That should stay in place until we're in our early 60s. We also have small insurance through our employers for free. We have a baby but no plans on getting a policy because there's no income to supplement. The rationale is if one passes away, the insurance policy will cover most, if not all, of the lost income and if invested, should cover that for life. It's actually a great return and added peace of mind for just $720 per year total on both our policies (to payout $500mil-$1mil and knowing your family will be just fine). Even if we've become very wealthy before 30 yrs is up, I would still keep and maybe even buy more life ins. I think life ins plays a role in helping families become wealthy, stay wealthy or become wealthier over generations. It is not taxed, you can get covered significantly more than your net worth (increasing your family's wealth even more) and goes straight to the intended beneficiary so no hassles with your estate.
I also want to add that most policies include a terminal illness clause that pays you out early around 50% - 100% of the policy face value if you are terminally ill. That will help a lot if you happen to get sick and need some funds for medical or in-home care.