Just because your wife stays home does not mean she is incapable of handling money. Nor does it mean that she will not enter the workforce at some time later in life. There might be something that precludes either one of these situations but even those may change.
Life insurance proceeds becomes the property of the beneficiary. It is typically left up to them how to deal with the proceeds. You could strongly suggest to your wife to purchase an annuity, but it would still be left up to her. Unless of course she is declared mentally incompetent.
This would be a weird situation as in you would need a lot more life insurance at a younger age, then you would at an older age. If you were to die with her in her twenties you would need a much larger annuity then you would if you were to die in her 50s. In fact you may not even be able to buy an annuity for someone below 40 years old.
What might be a better option would be to fund a trust, and have a trustee that you ... trust. This person would be free to invest in the stock market, far better at young age and a hedge against inflation. You would probably need to compensate the trustee, in some fashion, but it would probably be a lot less costly then an annuity.
My advice would be to talk to an agent and really consider why you would remove such decisions from your wife's per view. Keep in mind that any Life Insurance agent will attempt to sell you whole or universal life. Stay away from those especially considering you will likely need at least 2 million in coverage, and probably 3 on yourself. Term life is the way to go.
Also, if you have children, you will likely need to have some life insurance on her.