Sharon, age 28, is a single parent who earns $30,000 annually as a secretary at a local university. She is the sole support of her son, age 3. Sharon is concerned about the financial well-being of her son if she should die. Although she finds it difficult to save, she would like to start a savings program to send her son to college. She is currently renting an apartment but would like to own a home someday. A friend has told her that life insurance might be useful in her present situation. Sharon knows nothing about life insurance, and the amount of income available for life insurance is limited. Assume you are a financial planner who is asked to make recommendations concerning the type of life insurance that Sharon should buy. The following types of life insurance policies are available: ? Five-year renewable and convertible term ? Life-paid-up-at-age 65 ? Ordinary life insurance ? Universal life insurance a. Which of these policies would best meet the need for protection of Sharon