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Life Insurance: The Basics
Overview
Life Insurance: The Basics is a short, 30 minute lesson designed to cover the fundamentals of life insurance. Students understand the concept that there is only one guarantee in life, death. Students will be able to determine how individuals use life insurance and how surviving members use the death benefit. How insurers determine risk is also covered.
Objectives
The students will:
Define basic life insurance terms
Discuss death benefits and their uses
Determine how insurance companies underwrite life insurance
Time Required
30 Minutes
Materials:
To download the materials, right click and 'save target as' (PC) or hold down the option key and click the link (Mac).
 Power Point Presentation
Five ways to use a death benefit worksheet
Procedures:
Download/View the lesson procedures.
Assessment:
Working in groups, students will identify five applications of life insurance money after a death occurs.
Students can be divided into four or eight groups.
Resources/Contributors:
Linda Lambert, Ellen Geis, Terrence Mulgrew, Christy Johnson, Karen Razzino, Elaine Ryan
Crews, Tana B. Fundamentals of Insurance. Dubuque: South-Western, 2003
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