You can apply now for work permit for you and your husband and study permit for your kids send the application mention you are waiting for H&C just because you have status now they probably issue you extended work permit if they don't give you the work permit before the one you have expired you have continue status under the same conditions until they make a decision on work permits / student and H&C you can also ask for interim work authorization so you can use that paper with your current work permit to continue using OHIP if not they not renew your OHIP
Thanks @us in canada . My contract is getting over next month & I would need to start looking for jobs. Can I apply for work permit extension if I dont have a job.?