Summary
Students will examine different types of insurance and learn about what each type insures. They will identify appropriate amounts of insurance, learn insurance terms, and learn how insurance deductibles work. This lesson includes optional modifications for distance learning. Resources for use in Google Classroom are included.
Essential Question(s)
How can having insurance protect you from risks?
Snapshot
Engage
Students examine photos depicting people who might need insurance to protect themselves from risk and debt.
Explore
Students re-examine the photos to identify different types of insurance and what each might cover.
Explain
Students investigate the cost, coverage, and deductibles associated with a particular type of insurance. Working with a group, students create an oral presentation and a brochure or advertisement about the type of insurance they have investigated
Extend
Students play a Card Sort game or complete another optional activity to reinforce the lesson objectives.
Evaluate
Students' oral presentations and written reports (the brochure, flyer, or advertisement) may serve as evaluations for this lesson.
Materials
Lesson Slides (attached)
Insurance Graphic Organizer (attached, one per student)
Insurance Oral Presentation Rubric (attached, one per student)
Insurance Websites handout (attached, one per student)
Insurance Card Sort cards (attached, one set per group of four)
Insurance Types Answer Key (attached, optional)
Notebook paper and pencils for students
Student devices with internet access
Engage
Use the attached Lesson Slides to guide the lesson. Without mentioning anything about insurance or insurance coverage, move to slide 2 and pose the question, "How would you pay for these (expensive) life events?" Slowly move through slides 2-7 without immediate comment or conversation. After you've shown each slide, ask for volunteers to offer ideas on how to pay for these life events. Some students may volunteer insurance as an answer, especially those with a car, that their car insurance will cover a major accident.
Move to slide 8, the lesson's title slide. If students have not yet volunteered the idea of insurance, be sure to ask the question, "What type of coverage would you need for these events?" Students should bring up insurance. Tell students that, without insurance, most of these life events would be difficult to pay for or recover from financially. Move to slide 9 and briefly read aloud the essential question: How can insurance protect you from risks?
Explore
After students have discussed the role that insurance plays in paying for costly life events, display slide 10. Read the directions aloud. Have students get out a sheet of paper to take the quiz and see how much they know about different types of insurance. Ask students to label their papers with letters A through H. When ready to begin, move to slide 11. Ask students to name the specific type of insurance that would address the life event shown. Repeat this for slides 12-16, moving slowly enough that students have time to write down a response each time. Move to slide 17, and invite students to answer the two questions shown: G. How do you guarantee that insurance will pay you when one of these life events occurs? H. Does insurance pay for the entire cost of an event?
After students have answered all questions, move to slide 18, which contains the answer key. (An Insurance Types Answer Key is also provided in the attachments.) Ask students to check their work themselves. Read through the answers. As you do, ask students to share any information that they might know about each type of insurance. After this discussion, poll the class to see how many students answered each question correctly. Make sure to explain questions G and H further, touching on premiums and deductibles if students do not have a good understanding of this terminology.
Explain
Pass out a copy of the Insurance Graphic Organizer to each student. Number students off from 1 to 7. Display slide 19. Shown on this slide are the different types of insurance available to the public. Tell students that their assigned number corresponds to the type of insurance that they should investigate and research. Have students find two others in the class who are assigned the same number, forming working groups of three students each.
Display slide 20, which contains instructions for the insurance project. Ask each group to prepare a 5-minute presentation that includes a sales pitch or oral presentation and a flyer, advertisement, or brochure about the type of insurance that they are assigned. Student groups should first research websites based on the type of insurance. The Insurance Websites handout lists resources to which students can refer to gain a general idea of coverage limits, deductibles, and premiums. You can pass out copies of this handout (or distribute copies digitally) to students as a guide for their research endeavors. However, students should not be confined to use only these websites if they find other reliable resources. Allow groups at least one class period for online research and one class period to work on their presentations.
Pass out copies of the Insurance Oral Presentation Rubric to students after their research is completed but prior to the class presentations. Explain the rubric and answer any questions that groups might have. If time permits, consider having groups practice their oral presentations with another group and give feedback to each other according to the rubric criteria. Additionally, tell students that you will be using the rubric to assess the depth of their understanding when they present their final oral presentations to the entire class.
Extend
To extend the lesson, introduce students to the Card Sort strategy. Alternatively, consider one of the other optional activities detailed below. Each of these optional activities involves real-world research regarding insurance options that students might consider.
If opting for the Insurance Card Sort activity, ask the class to form groups of four. Pass out a set of Insurance Card Sort cards to each group. Invite students to sort these cards by matching the definition cards with cards containing a type of insurance or another insurance-related vocabulary word. Allow enough time for students to do so. Check for understanding once groups have sorted the cards.
Evaluate
Students' oral presentations and written reports (the brochure, flyer, or advertisement) serve as evaluations for this lesson. You may also choose to have students turn in the Insurance Graphic Organizers on which students took research notes from the websites they visited in the Explain phase. If you choose to review this information with students, move to slide 21.
Resources
K20 Center (n.d.). Card Sort. Strategies. https://learn.k20center.ou.edu/strategy/d9908066f654727934df7bf4f506976b
K20 Center. (n.d.). Google Classroom. Tech Tools. https://learn.k20center.ou.edu/tech-tool/628
K20 Center. (n.d.). Desmos. Tech Tools. https://learn.k20center.ou.edu/tech-tool/1081
K20 Center. (n.d.). Quizlet. Tech Tools. https://learn.k20center.ou.edu/tech-tool/666
National Association of Insurance Commissioners (n.d.). Glossary of insurance terms. https://www.naic.org/consumer_glossary.htm