Insurance is related to which of the following service sectors?

Correct option is C

Insurance falls under the tertiary sector of the economy. The tertiary sector, also known as the service sector, provides services rather than goods. It includes industries such as banking, finance, insurance, retail, and hospitality. Insurance offers financial protection and risk management, making it a key component of the tertiary sector.
Information Booster:
· Insurance: A critical service in modern economies, helping individuals and businesses manage risks.
· The tertiary sector is vital for economic growth as it facilitates trade, supports industries, and provides essential services.
· Examples of tertiary sector services: Banking, education, transportation, and healthcare.
· Quaternary sector differs from tertiary as it focuses more on intellectual services.
Additional Knowledge:
· Primary Sector: Involves the extraction of natural resources (e.g., agriculture, fishing, mining).
· Secondary Sector: Focuses on manufacturing and industrial production.
· Quaternary Sector: Involves knowledge-based services like information technology, research, and development.