Introduction to Insurance

Having the right kind of insurance coverage is an essential part of building a solid financial future. Insurance protects us from risk and guarantees that, once we accumulate assets, we will be able to keep them. Many teenagers and young adults may forego insurance if they view it as little more than an additional expense instead of looking at the cost of not being insured. The basic definition of insurance is risk management.

 

The first two activities are geared toward examining the risks associated with adulthood and preparing young people to manage them successfully. The third activity examines the most important components that make up every type of insurance: policies, coverage, limits and deductibles. In activity four, participants will be given a brief introduction to the types of insurance, and how to determine what type and how much each individual needs. Essential vocabulary words and explanations will be provided. In the final hands-on activity, participants will have an opportunity to learn about selecting the right policy through using online quote calculators to compare how plans measure up in meeting their needs.

 

Curriculum PDF files

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