Nicole is aged 38 and Keith is aged 42. Nicole works a stay-at home mum whilst Keith runs his own marketing business from an inner suburban office, which produces an average net profit of $150,000 before tax. They have two sons, aged 5 and 8 whom they expect will remain dependent until age 21 at which time the living expenses will decrease by $13,000 p.a. for each child when they leave home. They own their own house worth $950,000, which is subject to a mortgage of $375,000. They also have an outstanding credit card debt of $6,000. Both Nicole and Keith own their own cars. The couples living expenses total $84,000 p.a. including payment of a $27,600 p.a. annual mortgage payment. The couple would like to send the children to a private school from years 9 12 which is expected to cost $160,000 in total. In event of death of either Nicole or Keith, they estimate death and medical expenses to cost around $12,000. Keith currently has life cover of $150,000 in his superannuation fund (his current superannuation fund balance is $225,000) whilst Nicole has no life cover, also they have no other personal insurances. Keiths father passed away recently at age 67 as a result of heart disease, which seems to be a historical problem in Keiths family.

List the potential risks faced by the couple in terms of their assets and income