It’s great that your employer provides you with life insurance, but it may not be enough for your situation. Are you sure you’ll be working there when you die? Could you get laid off? Change jobs? Quit?
Also, a great employer life insurance policy pays your family two years’ worth of your salary. So after two years without your paycheck, what is your family supposed to do? The money runs out, but the bills keep coming.
Your spouse may not have an income, but they may be providing childcare and other services. If something happens to that spouse, you suddenly have expenses for daycare or other services, which can be costly on one income. Life insurance for your spouse would help offset those additional costs.
This varies depending on your unique situation. For example, if you have a spouse and young children, you need a lot of coverage and the lowest possible premium. This almost always means term insurance is a good option, with a locked-in premium. However, every situation is unique, so let’s talk about it.