What type of Life insurance such as term, whole life, variable, etc. would you recommend for each of these clients and why? Be sure to explain how each policy works and why it is right for them.

A middle aged couple (60 and 61) with an adult kid (37) and an elderly father that has moving in with them cause he is struggling to take care of himself (age 81). The husband and wife each earn $60,000 and get a total of $100k from work in life insurance ($50k each). They want to retire as soon as possible and have pensions that will pay them decent incomes in retirement.