Life Insurance: The Basics

Overview

Life Insurance: The Basics continues from the lesson Life Insurance: This lesson plan is also designed to teach students life insurance policy types including term insurance and permanent insurance. Students will be able to determine how individuals use life insurance and how surviving members use the death benefit.

Objectives

The students will:

Define basic life insurance terms

Discuss death benefits and their uses

Determine how insurance companies underwrite life insurance

Define Term Insurance

Define Permanent Insurance

Time Required

60 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

 Whole Life Insurance vs. Term Insurance

 Whole Life Insurance vs. Term Insurance - Key

 Life Insurance Chart

 Death Benefit Worksheet

Procedures:

Download/View the lesson procedures.

Assessment:

Whole Life Insurance vs. Term Insurance worksheet

Life Insurance Chart

Death Benefit Worksheet

Resources:

Crews, Tana B. Fundamentals of Insurance. Dubuque: South-Western, 2003

C. Peters

Michael Quinn