James was 28 years old when he immigrate to Canada 15 year ago with his daughter Nav, 2 years old and his wife Helena. Almost a year after his arrival, he was invited by a friend to attend a financial literacy seminar and learned about life insurance. His friend advised him to buy life insurance for himself and his family so that he will get some protection but he refused. James has now an annual income of $ 55,000 and Helena earns 30,000 annually. They have now two more children and a mortgage. However, they are now worried about their children's future education and paying off their mortgage. Finally, they decided to buy a life insurance policy

please discuss the following questions

A. when was the right time to buy the life insurance for James? now or upon his arrival when his friend advised him and why?

B. What type of insurance is good for them? the term, whole life, or universal life insurance? why