> It just seems like many of the decent paying term insurance plans I'm seeing require
> high enough payments that it doesn't seem worth it.
For an elderly person, this is certainly true. There's no need and it's really expensive. Again, the question is whether or not there is an income stream that others depend on that needs to be replaced.
For a young person with a family, there's really no excuse not to have it. If you're 30 and a healthy non-smoker, you can get a 500k, 30-year policy for 350 bucks a year... whereas a 500k policy if you're 70 is thousands.