BUDGET CHALLENGE: UNEXPECTED EVENTS In this lesson students are introduced to the basic concepts of insurance. Insurance is an essential part of financial risk management, yet is very different from other aspects of a financial plan such as having an emergency fund or saving for retirement. Insurance is something you buy hoping you never have to use it. Auto insurance, life insurance and warranties are covered in this lesson. Because of its importance and complexity, health insurance is a separate unit. In the simulation, students will have the opportunity to choose between auto insurance plans with different deductibles and renter’s insurance with different coverage levels. In addition, cell phone plan options include a protection plan option. During the simulation, an unexpected event may occur that results in insurance being used. When this happens, students see firsthand how insurance works and the tradeoffs involved in purchasing insurance and choosing deductible levels.
Before you leave class today you will learn about:
- Warranties (CW4A.5)
- Insurance Basics (CW4A.1)
- Types of Insurance (CW4A.2)
- Cost of Insurance (CW4A.3)
- Level of Coverage (CW4A.4)
- Log in to your Budget Challenge account
- From your Dashboard under Written Tests click VIEW DETAILS and next to (CW4) UNEXPECTED EVENTS click UNIT MATERIAL
- READ EVERYTHING & WATCH ALL THE VIDEOS!! TODAY IS A LEARNING DAY!!
- Once you feel like you know everything there is to know from the Unit Materials, take the quiz–you do not have to do this today!! REMEMBER: USE THE UNIT MATERIAL TO HELP YOU LOOK THE ANSWERS UP!! THIS IS NOT CHEATING!! YOU ARE LEARNING!!! I would right click the UNIT MATERIAL button and open it in a new tab so it is easier to answer the questions by looking up the answers in the Unit Material. NOTICE THE DUE DATE FOR THE QUIZ. ALSO, THIS GRADE WILL GO IN THE TEST/PROJECT PORTION OF MY GRADEBOOK!!