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Financial Literacy Activities

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Exploring types of insurance

Students investigate different types of insurance and determine which types they will most likely use in their lifetimes.

Topic

Protect (Managing risk, Using insurance)

Subject

CTE (Career and technical education), Physical education or health, Social studies or history

Grade Level

High school (9-10), High school (11-12)

Duration

45-60 minutes

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Updated

Big idea

We all face risks in life, and insurance is one way to help reduce financial costs when these challenging life events happen.

Essential questions

  • Which types of insurance will I most likely purchase in my lifetime?
  • Without insurance, what financial risks might I face?

Objectives

  • Identify the purpose of different types of insurance
  • Understand the risks of not having insurance

What students will do

  • Review types of insurance and identify who or what each type insures.
  • Consider the likelihood that they would buy each type of insurance in the future.
  • Select three types of insurance they think would be most important to them in the future and explain why they selected these types.

Download activity

Teacher guide

cfpb_building_block_activities_exploring-types-insurance_guide.pdf

Student materials

cfpb_building_block_activities_exploring-types-insurance_worksheet.pdf

cfpb_building_block_activities_types-of-insurance_handout.pdf

Note: Please remember to consider your students’ accommodations and special needs to ensure that all students are able to participate in a meaningful way.

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