Jane is 40, Harry is 42Their children, Emily and Brian, are 16 and 18 respectivelyBrian will be going to College in the Fall of this yearJane is a CPA at a local accounting firm with an annual salary of $220KHarry teaches at the local high school where he coaches football and makes around $90K annuallyJane volunteers on the Board of Directors of a local NonprofitBoth Harry and Jane are in good health and have an active lifestyleBoth the Arnolds and their children love Motorized Watersports. Assets: Harry and Jane own a 3-bedroom home with a market value of $500KThey have two SUVs and a SedanBoth Emily and Brian driveThe Arnolds own two Jet Skis and an 18 ft Outboard Boat, which they store on their propertyHarry has a collection of Sports Trading Cards which is valued at around $30,000 Long Term Goals: Income Protection for Harry and JaneCoverage of Major RisksCollege Funding for their ChildrenRetirement Income is covered by Harry and Janes Employment

Based on this information about the Arnold's:

1-What are the Major Risks Harry and Jane face?

2-What different insurance products do they need to cover those risks?

3-If Homeowners Insurance is required, how much coverage should they have?

4-If Life Insurance is recommended, what type would you recommend and how much should the death benefit be? Briefly explain your reasoning on the amount of the death benefit.