The answer to your question will depend on your own preferences and circumstances, but I would argue that generally at your stage of life you do not need nor want term life insurance.
Life insurance exists because having someone die when they are critical to the financial well-being of the family is a disaster. This is often true for people with children at home or who rely heavily on someone's work income or caretaking.
Once your children are gone and you have few years of work left, insurance isn't the primary concern. Instead you should be trying to maximize your total net worth and ensure that your savings are sufficient to allow you to retire at your target retirement age. Insurance costs (on average) more than it pays out, so by spending a lot of money on insurance now, you are reducing your expected wealth after retirement. For that reason in most cases I think it would be better to forgo the insurance and increase saving by a similar amount.
Your family may be very special if one of you really relies on the work income provided by the other and expects to for some time. In that case, you may want to insure the worker (but not the other spouse). However, if you would not financially be devastated by the death of one of you, you should pass on the term life insurance completely.
There are insurance plans designed for people in your age group, but the life insurance products are mostly mechanisms to allow slightly wealthier people who are not worried about their own consumption to pass down wealth from their generation to their childrens' without the risk of taxes---you can look into these if that is your situation. You may also want to consider other products, like long-term care insurance. Death is not usually the major financial risk at your age.