The correct answer is: Falling into debt if faced with a serious problem not benefitting from insurance.
Let's remeber that an insurance is a form of contract that is refered to as a policy, in this contract an individual or organization receives financial protection as well as reimbursement of damages from the insurer or insurance company. In this way you are protected from financial losses.
One of it's most important functions then is to provide reliability, removing the uncertainty of a sudden loss. Imagine you have been saving for years until finally you are able to open your own bussines, you don't have an insurance because you think it's not necessary and will be expensive. Some day a hurrican hits your area and your bussines gets destroyed, all the investment made is lost without chances to get it back. With the insurance you are protected from these unexpected problems, the insurance company gives you money to recover.