Family A consists of a single woman in her late twenties who has been granted tenure as a professor at York University. Student loans are at a minimum, as they have been paid regularly since graduating with her PhD. Because of her dedication to academics, there is no plan for marriage in the long-term future. She owns a recent model compact car and occupies a one-bedroom apartment close to the school. She has a valuable art collection, most of which was left to her by her parents, and she intends to add to it as her growing income permits. Annual long-term vacations are her second passion. She will not qualify for York University's benefit plan until she completes two years of probationary service.

Discuss the insurance needs of this family. Please provide the reasons for each decision.