Learning about insurance

Updated Aug 25, 2022

Students play a game where they do an action to match common types of insurance with the risks they cover.

Big idea

We all face risks in life, and insurance is one way to help reduce financial costs when these challenging life events happen.

Essential questions

How does insurance protect people?
What are some types of insurance?

Objectives

Understand the benefits of having insurance
Identify the purposes of different types of insurance

What students will do

Learn about some common types of insurance.
Play a game where they match common types of insurance with the risks they cover.

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Teacher guide

cfpb_building_block_activities_learning-about-insurance_guide.pdf

Note: Please remember to consider your students’ accommodations and special needs to ensure that all students are able to participate in a meaningful way.

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Key information for this activity

Building block

(What are the building blocks?)

Executive function
Financial knowledge and decision-making skills

Topic

Protect (Managing risk, Using insurance)

School subject

English or language arts, Fine arts and performing arts, Physical education or health

Audience

Grade level: Elementary school (2-3), Elementary school (4-5)

Age range: 7-9, 9-11

Student characteristics: English language learners, Special education, Low income, Rural, Urban

Activity characteristics

Activity type: Whole class

Teaching strategy: Cooperative learning, Gamification

Bloom’s Taxonomy level: Understand, Analyze, Evaluate

Activity duration: 45-60 minutes

National standards

(What are the national standards? )

Standards: VI. Managing risk

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