NEW
Economics
Grade 12
What is this lesson related to?
Chapter3.3:Getting Insurance
Pages 596-597
Objectives
Categorize the benefits of getting an insurance
Interpret the types of insurance
Discuss the selection of an insurance policy
Video
https://www.youtube.com/watch?v=ehvKU5wM0a8
Insurance
Insurance protects people from the financial effects of unexpected losses.
When you buy insurance coverage, your money joins a pool of money from many different people who face similar risks. The system works because the risk is spread over a large group of people. The chances of any one individual suffering a loss are small.
Imagine that you have not purchased any insurance.You are facing an emergency situation where you have to deposit money to get treatment for a disease. How will you support yourself without an insurance?Discuss the benefits of having an insurance.
protects you __________against those kinds of losses.
Economically
Emergency
Financially
Carefully
How and why is the size of the deductible
related to the amount of insurance premiums?
A __________, which is the amount you pay before the insurance company pays on a loss
payment
deductible
Payment for a protection or coverage
Deductible
Co-Pay
Premium
A _________, an amount you must pay each time you receive health care under your policy
Co-pay
When you have a loss you submit a _______, which is a request for payment, to the insurance company.
claim
co-pay
premium
What are the different types of insurance policies?Prepare a slide with the different policies.
What reasons do people cite for getting insurance?
Explain how having insurance could help in each of the following situations.
Case A: Your CD player and 10 CDs are stolen from our
car.
Case B: You have to have emergency surgery for a fractured leg.
Case C: Your car is smashed up by a hit-and-run driver. The damage is well over $2,000
What is meant by premiums?
Why do people pay premiums?
Plenary
Give the main points of the lesson.
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