Answer:
C. To protect themselves from costly expenses in the future
Explanation:
Insurance can be regarded as one of form of risk management, it can be explained as a way of protection from financial loss which could occur in future time, Insurance is taken so that risk of a contingent or uncertain loss can be cater for in the future, Those that provides insurance is known as an insurer which could be an insurance company.It should be noted that one of the main reason consumers choose to spend money on insurance is To protect themselves from costly expenses in the future
There are different types of Insurance which are are;
Life Insurance
✓Property Insurance,
✓Marine Insurance,
✓Fire Insurance,
✓ Liability Insurance,
✓Guarantee Insurance.
