Steve, a licensed insurance agent met with Mike and Colieen, both aged 35 , married with 2 children, Adelaide and bellah, and completed a Me insurance needs analysis. Their monthly income after-tax is $7,000 combined, monthly expensen total $5,400, they have $10,000 in TFSAz, mortgage for 200,$00, car loans totaling $40,000, education savings with a current value of $5,000, and they both have 20 year term policies whth 200,000 of coveragh What can we conclude from the analysis of Mike and Colleer's current financial situation? They don't have sufficient fiquid assets in an emergency fund. They have sufficient life insurance coverage already in place to cover all outstanding debts in the event of either Mike or Colleon paating way. They should convert their term life insurance policies to whole life insurance policies. They should liquidate their TFSAs and pay down their car loans