1. Below are various scenarios individuals looking for life insurance encounter. For each scenario, select the type of life insurance that best fits the person's needs. Options: yearly-renewable term, 20 year term, ordinary whole life, variable life, universal life. a. Jimmy, age 20, wants the absolute cheapest option. b. Jane wants an option to cover her for her entire life without having to worry about any fluctuations in the stock market. She likes guarantees and certainty. C. Dan values flexibility above all and coverage for his whole life would be nice. d. Barbara, age 45, plans on retiring at age 65. Once she reaches retirement, she should have enough saved up that she won't need or desire to have life insurance but she would like to have life insurance until she reaches retirement. e. Chris wants a policy that will let him withdraw money from the policy's cash value if he wants but while also still keeping the policy in force. He also would like to make sure the cash value at least makes some positive return each period._ f. Lindsey wants a policy that could have a larger death benefit if the stock market does well. g. Becky only has $300 a year she can afford to use on life insurance premiums. She's not a fan of yearly-renewable term insurance. Which policy would give her the most "bang for the buck (i.e. buy her the highest death benefit) most likely?__ 1. Below are various scenarios individuals looking for life insurance encounter. For each scenario, select the type of life insurance that best fits the person's needs. Options: yearly-renewable term, 20 year term, ordinary whole life, variable life, universal life. a. Jimmy, age 20, wants the absolute cheapest option. b. Jane wants an option to cover her for her entire life without having to worry about any fluctuations in the stock market. She likes guarantees and certainty. C. Dan values flexibility above all and coverage for his whole life would be nice. d. Barbara, age 45, plans on retiring at age 65. Once she reaches retirement, she should have enough saved up that she won't need or desire to have life insurance but she would like to have life insurance until she reaches retirement. e. Chris wants a policy that will let him withdraw money from the policy's cash value if he wants but while also still keeping the policy in force. He also would like to make sure the cash value at least makes some positive return each period._ f. Lindsey wants a policy that could have a larger death benefit if the stock market does well. g. Becky only has $300 a year she can afford to use on life insurance premiums. She's not a fan of yearly-renewable term insurance. Which policy would give her the most "bang for the buck (i.e. buy her the highest death benefit) most likely?__