NO--not even close. You should have $1 million dollars of coverage for every $50k of income that you have.
Life insurance is so cheap, it is foolish not to get adequate coverage., You can get it for literally pennies on the dollar. You don't have kids now, but you have a spouse. What happens if you become disabled, have kids in the future, etc.? Things change, and if you are healty now, then get the coverage while you can.
I've never seen a widow who received life insurance monies that regrettted having purchased the insurance on their spouse. They wish they would have done more.
Sidebysidequotes.com shows that the monthly cost for a 30 year, $1 million term plan for a 34 year old male is $56/month. Change your cable package/cell phone plan, whatever- and get some coverage!