Michael and Sarah have been married for 20 years in Canada:

They have three children:

Jerry:   Born April 5, 2012
Jones:   Born April  12, 2010
Margareth:  Born June 8, 2008 .

Below are the finances of the couple.
They have their own business. Revenue from their business was $5millon.
Michaels Annual salary: $125,000
Sarah's annual salary: $100,000.

The couple has a U.S.D account and also a Canadian account.
US customers pay in USD to US account.
Canadian customers pay into CAD account.
They have a house worth $300,000 in Hawaii.
They are thinking of buying another house in Whistler.
They plan on selling the business later this year for $13million.

Required:
What kind of insurance they should have? (Explore in details all insurance available).
• Be sure to explain in detail your recommendations to specific, real-world actions the family can take.  
• Provide/quantify every aspect of their finances using Excel.
• Provide Kindly list all assumptions you make clear.