A surface level look at Instagram !!!
Instagram is now owned by Facebook. In one of the articles, James Altucher digs into the roots of facebook and defines it aptly like this
"The best ideas are when you take two older ideas that have nothing to do with each other, make them have sex with each other, and then build a business around the bastard, ugly child that results. The child that was so ugly nobody else wanted to touch it. Look at Facebook: combine the internet with stalking. Amazing!"
Now that ugly child has loads of photos which it got through Instagram's take over. Imagine what it will do. Sell the photos acquired for the purpose of stalking.
And the solution is
Two solutions are possible if you want to prevent your personal photos to be licensed by some one else
Delete your account along with the photos uploaded.
Instagram backtracks with its new encroaching terms and settle for a middle way : most likely will happen but this solution is certainly not in your hands.