Because you are single, you do not have any dependents yet. Therefore, your death would not devastate anybody financially, and life insurance is not a priority at this point. There are cases where life insurance would make sense, such as with a dependent parent(s), but these are exceptions to the norm.
This is where the need for life insurance becomes very high. You’ll want to ensure your spouse does not suffer financially should you pass away prematurely. There are differing opinions on how much coverage to get, at the minimum you should have enough life insurance in place to pay off the mortgage and other debts.
Married with Kids
You may want to review your life insurance to make sure the coverage is adequate, since you’ll now have to account for education funds and a larger income protection. As your income grows, you’ll also want to review your disability insurance to make sure the monthly benefit is sufficient.
Since your income is now coming from your pension and savings, your death should not burden your spouse financially anymore. Therefore, as a retiree, life insurance is only necessary for final expenses, to leave a legacy or for charity. You can either convert a portion of your term insurance to permanent, or apply for a brand new policy.