Answer & Explanation: 1)30 year old businessman- Insurance helps to indemnify your business in terms fire, theft and losses. Also it helps to manage cash flow uncertainty.
2) 40 year old housewife with 2 children - Insurance secures your children's future as in case of any eventuality they can stilk achieve their dream. Also, household risk is reduced as insurance ensures payment for covered losses.
3) A young lawyer with good career prospects - Insurance provides financial protection against unexpected risk of losses. It also gives peace of mind as there is protection from probable chances of loss.