Family information: Sharon, age 29, married, has a 3-year-old son, is the only breadwinner of her family. Sharon earns $70,000 annually as a loan officer. Sharon is concerned about the financial well-being of her son if she should die. She would also like to start a savings program to send her son to the college. She is currently renting an apartment but she would like to buy a home someday. She is considering buying life insurance to help her situation. Her current budget for life insurance is limited, but as a loan officer, her income growth in the future is promising.Assume you are a financial planner and you are about to make recommendations to Sharon regarding the type of life insurance that Sharon should buy.The following types of life insurance policies are available from your company:

10-year convertible term

Ordinary Life

Traditional whole life paid-up-at age-65 (35 years pay)

Universal life

Which of these life insurance policies would best meet the need to accumulate a college fund for Sharon's son? Explain your answer.