Business owner life insurance buyout wuestion

[Anonymous]

I own a business that bets about $1.5M a year. I have a staff of about 30. We have considerable assets and life insurance already. Financial advisor wants me to buy a life insurance policy on me for some key employees to be able to buy the company from my spouse in the event that I die.

This seems pointless to me. If the concern is liquidity then it seems she and I should just buy another $4M-$5M policy in us and do can deal with the business sale when I die. My senior staff make $250-$400K+ per year so my plan if I die young is that she sells it to one or two of them. They put down what they can, probably take a bank loan and she will carry back subordinate financing for the balance. We would from existing insurance have enough to liquidity and the other assets would generate enough for them to live comfortably and then some.

Anyone agree with my financial advisor? What am I missing?

[Anonymous]

Op here. Several dhs were spelled checked to she. But I think it is still readable.