My lot have two types on offer. One is 'Death in Service' benefit, which means they will pay a lump sum on my death whilst in employment by the company (FWIW about £140,000)
The other is 'Accidental Death' insurance, which I take to mean that if I die on duty, will be paid out (in addtion to above).
It depends on your personal situation. If you have no depenants, there should be no real need to get life insurance. After all no one is going to weep too much if the banks doesn't get paid back if you die.
However with wife and children, it really does make sense to get it. General figures are to be covered for upto 10x salary (which is muchmore than the company will provide). It's worth pointing out that if you die on duty and it's your fault (i.e you ingored the 'whoop, whoop, pull up'), the underwriters will come after your estate to get the money back. Having a policy in trust should keep the family safe.
In my situation, the company Death in Service will pay off the mortgage, but I have extra insurance to provide a lump sum for the family.