Simon, age 35, is married with two children aged 4 and 6. The family home is worth $250.000 and Simon is the only one making the payments on the $200,000 20-year mortgage He wants to make sure that, in the event he dies prematurely, his wife will be financially secure until age 65, be able to provide for their children and pay for their education until they turn 21. With the help of his life insurance agent, Simon has determined that he needs coverage of $500,000. Unfortunately, he can't afford a high premium right now, but he expects his income to increase substantially in the next few years. Based on his needs and financial situation, what type of policy should Simon purchase? # a) A whole life policy. b) A universal life policy. A convertible T-20 policy. Vd'Aconverti d! A decreasing T-65 policy