12. Travis, 28, and his wife, 26, have recently moved into a new home. They nanced $350,000 of the $500,000 purchase price and utilized all of their savings to pay the down payment of $150,000. Travis's wife stays at home with their 3year old son, Alex, and is expecting a baby in two months. Which of the following statements is not correct? a. Travis should consider a 30 year term life insurance policy on his life which could fund his children's educational needs if he should die during the term. b. A universal life insurance policy would provide Travis with the insurance protection of a term life insurance policy and would also provide him with a taxdeferred savings mechanism. c. A whole life insurance policy would provide Travis with the least expensive temporary life insurance needed to eliminate the mortgage at his death. d. Travis should consider a whole life insurance policy on his life which could fund his children's educational needs or pay off the mortgage if he dies while those needs exist, and which could also provide Travis with a source of funds if he lives thrth his retirement