Baby due in December, want to buy life insurance, not sure if work provided option is good

Like the title says, my baby is due in December. This is my first child. I have never had life insurance before, except whatever the included option is with my employee benefits because I don’t have to pay for it. That’s $50,000 a year.

I can purchase supplemental term insurance through my work during our open enrollment period – which is now. If I select up to $25,000, there is is no evidence of insurability required. Or up to $500,000 with proof of insurability. The cost is about $500 a year for the $500,000 coverage. I can also purchase for the same price, term insurance for my wife, up to the same amount I get for myself. Well, a little cheaper as she’s a couple years younger and in a lower age bracket.

Are these good rates?

Should I be shopping for private life insurance?

How much life insurance is ‘enough’?

Some extra details:

43, m, 5’10, 165 lbs, work out a few times a week, no smoking, very very occasional drinking (weddings basically, I quit about 2 years ago)

my wife, 37, no smoking or drinking, not the best at exercising but 5’3 and 120-130 (est. – she doesn’t ever want me to know her weight)

we both make decent money on paper but live in HCOL area

Any advice is appreciated.