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Insurance for the Family

Main Core Tie

Adult Roles and Financial Literacy
Strand 7 Standard 5

Authors

CTE LESSON PLANS

Summary

Students will understand the common types of insurance, insurance needs at various family life stages, and the consequences of being under-insured.


Materials


Instructional Procedures

Vocabulary
Use the plan's vocabulary worksheet and key (pdf).

Primary Vocabulary

  • Liability
  • Beneficiary
  • Collision
  • Comprehensive Coverage
  • Deductible
  • Policy
  • Insured
  • Policy holder
  • Premium
  • Risk

FCCLA Activity Option
See the Families Acting for Community Traffic Safety website.

Introduction/Pre-Assessment
You have been working for the past year to save money for your first car. Once you have a car, the next important consideration is to purchase insurance so that protection is provided in case of loss. One snowy day on your way to school you are involved in a crash. You were tailgating the car in front of you and when they applied the brakes quickly, you swerved to miss the car but couldn't avoid hitting its rear corner. As you swerved to avoid the crash you hit a stop sign and mailbox. Fortunately, the passengers in the other car only had minor injuries. However, you received a broken arm. Process Questions:

  1. If you did not have insurance, how would you pay for this damage?
  2. Are you required to have auto insurance in Utah?
  3. What types of coverage(s) will you need to be protected?

Content Outline, Activities and Teaching Strategies
(All options do not necessarily need to be taught. Select ones to cover standards and objectives and according to your district policies.)

Option 1A: Auto and Homeowners Insurance
Use the following materials:

Option 1B: Auto and Homeowners Insurance
Use the following materials:

Option 2: Auto Insurance Lesson Plan
Use the Auto Insurance Lesson Plan (pdf).

The teacher will present the "Don't Risk It: Cover Your Car" Worksheet and use it to provide orientation to the subject matter. Next, students will learn financial responsibility requirements form the sample declarations page worksheets. Also, included is a crossword puzzle and word search to assist in terms recognition and recall.

Option 3: Insurance
Use the following materials:

Option 4: Utah Auto Insurance Requirements
Use the Utah Auto Insurance Requirements Information (pdf) and a website to find additional information about auto insurance.

Option 5: Types of Insurance
Family Economics and Financial Education (FEFE) Lesson Plan. This lesson plan comes with teacher information, worksheets, PowerPoint, Insurance scramble, and a quiz.

Students examine the basic features of five types of insurance: automobile, health, life, disability, and homeowner's/renter's. Learning is reinforced when playing an activity to identify which insurance is necessary to cover different types of risks.

Step #1: Go to: http://www.fefe.arizona.edu/download-lessons (You will need to register and log in to this website prior to use)
Step #2: Click on Educational Resources, then click on Curriculum, then click on 10.0 Insurance.
Step #3: Click on 1.10.1. Types of Insurance and download the lesson plan and resources.

Option 6: Insurance Powerpoint
Use the Insurance PowerPoint presentation and the Insurance Listening Log (pdf).

Summary/Evaluation
It may seem like insurance is a waste of resources- spending money on something that may or may not happen. Since you cannot predict the future, it is important to protect yourself and your possessions against damage and harm. Insurance is all about protection- it protects you against an unfortunate incident such as a car accident, a robbery, or an illness. The moment an unexpected ill-fated event happens, you will be so glad you have insurance. Medical bills from a minor accident can deplete your savings and force you into bankruptcy. Insurance is not a rip off, but rather an essential financial service.


Created: 07/13/2011
Updated: 02/05/2018
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