Kevin is 35 years of age, and Martha is 37. They are planning to begin a family within the next year. 

Currently, they do not have any personal insurance policies at all. 

Both do have life insurance policies (in the amounts of $100 000 and $120 000 respectively) provided as employment benefits by their employers.

Kevin earns $75 000 annually and Martha earns $100 000 annually. They own a modest home in North York worth $700 000, and their mortgage is approximately $400 000. They have no other significant debt outstanding. 

Given that they plan to start their family in the next year, and want two children, what are your thoughts about their existing insurance coverage. Create an argument for them showing that either they have enough insurance, too much insurance, or insufficient insurance.