Day 119

Lesson Objectives

  • Explain why insurance is an essential part of a healthy financial plan.
  • Identify ways to lower the cost of insurance premiums.
  • Identify insurance for the types of risks that young adults might face.

Assignment IU1.3

  1. Watch Video 1.1
  2. Record the missing words from pages 188-190 of the textbook as they pop up on the left side of the video screen by filling in this form.  (pages 188-190) .
  3. Discussion Questions:
    1. Explain the role of insurance in your financial plan.
    2. Why is it important to understand that insurance is a financial product?
    3. What is risk in relation to insurance?
    4. What is a premium?
    5. If you have a full emergency fund, what is the best way to keep your premiums down?
    6. What are the four insurances a young adult should have?

Assignment IU1.4

  1. Create a new Google Drawing with a widescreen setting of 16:10.  Name the drawing Insurance Types-(Your Initials) and move it into your Lesson 1 folder.
  2. This drawing will be an informational pamphlet regarding The 7 Basic Types of Insurance Coverage needed.  You can use your textbook link above as well as the internet to gather information on each type of insurance.  The purpose of the brochure is to inform the public about necessary types of insurance.  Your brochure should include graphics, images, textboxes, arrows, and the like to help bring attention to the information.  Your pamphlet should include the following:
    • The 7 necessary types of coverage as stated in the textbook.
    • The purpose of each of the necessary types of insurance.
    • Stage of life at which one needs each of the 7 types of insurance.