Zaid and Ranya are prospective clients. They are meeting with Pablo, a licensed life insurance agent, to review their assets and present recommendations for their situation. Zaid works for a small accounting firm. He receives a generous salary but has no employee benefits Ranyostans at home with the ith children. They send every dollar not needed for their own living expenses to help their family in iran As a result, they have no savings or investments other than owning their own home.

What should Pablo recommend to manage their financial risk?

Select one:

a$.$

The need to start planning for retirement with an RRSP for Zaid.

b$.$

They need tax efficiency for Zaid's salary that can be achieved by income splitting.

c$.$

They need to establish an emergency fund that can be available for the family in the event if Zaid's salary was lost or reduced.

d$.$

They need to start education planning for their children with an RESP.