INTERACTIVE: Play the Bummer game. Discuss the questions below.
- The purpose of insurance is to provide you with financial protection against a possible risk. In Bummer, risk is generated by the Wheel of Bummers. Describe how you felt each time you spun the Wheel of Bummers, both when you had plenty of money and when you were short on cash.
- Agree or disagree, then explain your answer: In real life, the best strategy is to pay the highest premiums and buy as many Add Ons as you can afford so you’re protected against many financial risks.
VIDEO: What Is Pet Insurance?
In Bummer, one type of insurance you purchased was pet insurance. Watch this video to learn more about how this insurance works in real life. Then, answer the questions on your worksheet.
ARTICLE: What’s the Difference Between Long-Term and Short-Term Disability Insurance?
Now that we’ve learned about pet insurance, let’s move back to thinking about people and the risks we take. Working, driving, climbing up a ladder, or even inexplicably developing a long-term illness can impact our ability to work and earn a living. Disability insurance can help. Skim this article to find answers to complete the questions on your worksheet.
WEBSITE: Life Insurance 101
Disability insurance provides cash payouts if you’re unable to work. Life insurance also provides cash payouts if the insured person dies while the policy is in effect. First, watch the video at the top of the page and then explore the Questions and Answers that follow in order to answer the questions below.
- How do you decide if you even need life insurance?
- Wait a second: If you have life insurance, and you are the one no longer alive, who gets the benefit payout?
- What types of expenses can your life insurance beneficiary pay for with the benefit?
- What are the two types of life insurance policies, and what is the difference between the two?
- What factors impact the cost of your life insurance premium?
LEARNING TARGETS:
- I can explain how pet insurance works and how it compares to human health insurance.
- I can differentiate between short- and long-term disability insurance.
- I can decide when a life insurance policy is appropriate and how to select the best type for their needs.
