Students learn about different types of insurance.
- Examine the different types of insurance available.
- Identify key terms associated with insurance and risks: natural disaster, liability, disability, deductibles, and risk management.
- Explain the purpose and importance of different types of insurance protection as a risk management strategy (e.g., life, health, property, liability, disability, and automobile).
Standard 11: The student will describe and explain how various types of insurance can be used to manage risk.
Suggested Grade Level
7th – 12th Grade
Insurance is one of the most important parts of your risk management plan. By purchasing insurance, individuals can transfer their personal risk to a third party — the insurance company. Today, it is possible to insure almost anything. Understanding the different kinds of insurance available and evaluating potential losses helps consumers make more informed decisions.