Students learn how insurance can be used to manage risk.
Teaching Objectives:
- Examine how deductibles affect insurance premiums.
- Determine how out-of-pocket expenses impact the cost of using insurance.
- Identify ways to save money on insurance premiums.
- Demonstrate the ability to select appropriate amounts of insurance in selected situations.
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
Lesson Excerpt:
Making good choices about insurance is like being wrapped in a protective blanket. Insurance provides protection against catastrophic losses that could have long-term impact on a family’s financial future. While insurance companies pay most of the costs when there is a loss, almost all policies have some type of deductible or other out-of-pocket expenses. Learning how to manage those additional expenses is part of understanding the role of using insurance to manage risk.
