I'm with Cremeegg - any additional life cover looks like overkill to me.
No doubt the brokers will be on shortly to disagree with us!
In the unlikely event that you were to pass away, your wife would have €650k, plus a paid off house, plus the aggregate value of your pension entitlements. For the sake of argument, let's say the transfer value of your aggregate pension entitlements today is €350k, that would leave total assets of €1 million plus a paid off house. Invested conservatively and drawn down at a rate of 3% per annum, that equates to €30k per annum, which should comfortably last a lifetime. I would have thought that anybody could comfortably raise a family on €30k per annum if they have no rent or mortgage to worry about.
Bear in mind that your kids won't always be 6 and 3. Your wife may well chose to re-enter the workforce when your kids are older.
I would be much more concerned about ensuring that you have adequate permanent health insurance (PHI) in place. The sad reality is that a long term illness can have a much more detrimental impact on a family's finances than a death.
You should obviously have a will in place and I would have thought that having nominated guardians makes a lot of sense.