There's no point in taking the advisors word as gospel.
Instead, ask yourself, what will the 50k be used for is one of you were to get critically ill or pass away. With this information, we'd be better able to advise you on your options.
In my opinion, someone approaching retirement, in general, should not need such a policy. In theory, their children should be grown up, their mortgage should be paid off and they should be able to survive on their pension.
At the end of the day, if you can afford 130 euro p/m out of your retirement income, your retirement income is enough to not need the policy in the first place and the premiums would be better of invested.
If the policy is actually needed, what are the plans should you both survive past the age of 75?