Answer the following question:
Question 1: Identify the characteristics of universal life insurance.
Question 2: Explain group plan life insurance.
Question 3: What is the main purpose of the Pension Benefit Guaranty Corporation?
Question 4: Describe a defined-contribution plan, and explain how it differs from a defined-benefit plan.
Question 5: What type of general guidelines may be specified for a trust that is managing a pension fund?
Note: Please provide reasons to support your answer.