Honestly, SFIE and I didn't have great insurance and are now in the process of acquiring good policies. We're really hoping I can still qualify for permanent insurance and I feel stupid for not having pursued this earlier. We started this before we got pregnant again, because of the simple reality check of realizing that neither of us would be able to pay the bills - not the house, the car, a funeral . . . nothing. And in this economy, I don't fancy trying to sell our hole of a house while coping with my husband's death.
You don't need huge amounts, you don't need a permanent policy or a investment vehicle. But basic term policies to cover the costs of funeral expenses, house, car, debt . . . that is just basic, man. That's taking care of each other.