Consumerism really is a new concept that is born of corporate and governmental greed. The more we spend on crap the more profits companies make and the more governments get to collect in sales tax and corporate income taxes. Plus the goods we purchased didn't just lead to corporate profits for one company, but for many which adds even more taxes. Plus those goods all lead to jobs which means more tax paying citizens. It's all just BS.
Good call on the life insurance as there are always final expenses that need to be taken care of and these policies will make sure your kids are whole at the end of everything and maybe even collect a little money. While the money isn't important in itself there are many times that the death of a family member causes stress and that extra money might give some options like taking a little time off work to morn.