Understanding how insurance works: A case study about Lucy
Students read about how insurance works and then review a case study to see how insurance choices can affect personal finances for a young adult in a rural area.
When you purchase insurance, you are transferring financial risk from yourself to an insurance company.
- What is the main benefit of choosing to purchase insurance?
- How do the insurance company and the policyholder share risks and costs?
- Understand how insurance works
- Apply insurance policy specifics to a case study to evaluate costs and benefits
What students will do
- Read about how the insurance process works and discover what roles the insurance company and the policyholders play.
- Review information about specific types of insurance policy coverage and costs.
- Evaluate a case study to see how one policyholder’s insurance choices affected her financially.
- Write an advice email about the value of insurance in that policyholder’s life.
Note: Please remember to consider your students’ accommodations and special needs to ensure that all students are able to participate in a meaningful way.