Richard, age 35, is married and has two children, ages 2 and 5.He is considering thepurchase of additional life insurance.He has the following financial goals andobjectives:

-Pay off the mortgage on his home, which has 25 years remaining

-Accumulation of a sizeable retirement fund

-Payment of monthly income to the family if he should die

-Withdrawal of funds from the policy when the children reach college age

For each of the following life insurance policies, indicate with an explanation which ofthe above financial goals, if any, could be met if the policy is purchased.

a. Decreasing term insurance

b. Ordinary Life insurance

c. Universal Life insurance

d. Variable universal life insurance