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Key to the Future
Chapter 2, Lesson 2Chapter 2, Lesson 2
Warm-Up QuestionsWarm-Up Questions
CPS Questions 1 - 2CPS Questions 1 - 2
Note for teacher: Use “Pick a Student” button in CPSNote for teacher: Use “Pick a Student” button in CPS
Key to the Future
What insurance is and why it is What insurance is and why it is necessarynecessaryMajor types of insuranceMajor types of insuranceHow to protect your personal and How to protect your personal and financial informationfinancial information
Chapter 2, Lesson 2Chapter 2, Lesson 2
Key to the Future
What do you think is What do you think is purpose of having purpose of having insurance? How many insurance? How many types of insurance types of insurance can you name? Discuss can you name? Discuss your answers with your answers with another student.another student.
Chapter 2, Lesson 2Chapter 2, Lesson 2Photo courtesy of Shutterstock
Key to the Future
InsuranceInsurance is the means by which is the means by which people protect themselves financially people protect themselves financially against losses or liability incurred as a against losses or liability incurred as a result of unexpected eventsresult of unexpected eventsInsurance works on the principle of Insurance works on the principle of shared riskshared risk
Chapter 2, Lesson 2Chapter 2, Lesson 2 Photo courtesy of Shutterstock
Key to the Future
PremiumPremium is the fee paid for being is the fee paid for being protected by the insuranceprotected by the insuranceInsurance Insurance PolicyPolicy is the contract is the contract promises to pay you for any lossespromises to pay you for any lossesClaimClaim is made after any accident or is made after any accident or demand for paymentdemand for paymentDeductiblesDeductibles are amounts you agree are amounts you agree to pay before insurance companies to pay before insurance companies pay pay
Chapter 2, Lesson 2Chapter 2, Lesson 2 Photo courtesy of Shutterstock
Key to the Future
AutomobileAutomobileProperty (for homeowners and renters)Property (for homeowners and renters)LiabilityLiabilityHealthHealthDisabilityDisabilityLifeLife
Chapter 2, Lesson 2Chapter 2, Lesson 2Photo courtesy of Shutterstock
Key to the Future
Learning Check QuestionsLearning Check Questions
CPS Questions 3 - 4CPS Questions 3 - 4
Note for teacher: Use “Pick a Student” button in CPSNote for teacher: Use “Pick a Student” button in CPS
Chapter 2, Lesson 2Chapter 2, Lesson 2
Key to the Future
On the worksheet provided, complete a On the worksheet provided, complete a thinking map organizing the major types of thinking map organizing the major types of insurance listed in your textbook.insurance listed in your textbook.
Be prepared to share your answers with the Be prepared to share your answers with the class.class.
Chapter 2, Lesson 2Chapter 2, Lesson 2
Key to the Future
CollisionCollision Insurance Insurance ComprehensiveComprehensive Insurance Insurance LiabilityLiability Insurance Insurance
Property Damage InsuranceProperty Damage InsuranceBodily Injury InsuranceBodily Injury Insurance
Uninsured Motorist ProtectionUninsured Motorist Protection Insurance InsuranceEmergency Road ServiceEmergency Road Service Insurance Insurance
Chapter 2, Lesson 2Chapter 2, Lesson 2Photo courtesy of Shutterstock
Key to the Future
Each company sets its own Each company sets its own ratesratesThe most important factor is The most important factor is your driving recordyour driving recordOther factors:Other factors:o Traffic TicketsTraffic Ticketso AgeAgeo Where you liveWhere you liveo Type of car you driveType of car you driveo Whether you’re a good studentWhether you’re a good studento GenderGender
Chapter 2, Lesson 2Chapter 2, Lesson 2Photo courtesy of Shutterstock
Key to the Future
Choose a reputable companyChoose a reputable companyFind out what type of coverage your state requiresFind out what type of coverage your state requiresDecide on additional insurance you want to purchaseDecide on additional insurance you want to purchaseThink about deductiblesThink about deductiblesNarrow your search and compare ratesNarrow your search and compare ratesYou may want to find an You may want to find an insurance agentinsurance agent
Chapter 2, Lesson 2Chapter 2, Lesson 2Photo courtesy of Shutterstock
Key to the Future
Learning Check QuestionsLearning Check Questions
CPS Questions 5 – 6CPS Questions 5 – 6
Note for teacher: Use “Pick a Student” button in CPSNote for teacher: Use “Pick a Student” button in CPS
Chapter 2, Lesson 2Chapter 2, Lesson 2
Key to the Future
Review the worksheet and example Review the worksheet and example exercise.exercise.
Complete each mathematical insurance Complete each mathematical insurance problem to evaluate insurance premiums. problem to evaluate insurance premiums.
Be prepared to share your answers with the Be prepared to share your answers with the class.class.
Chapter 2, Lesson 2Chapter 2, Lesson 2
Key to the Future
Property InsuranceProperty InsuranceHome owners or Home owners or RentersRentersCovers valuable items Covers valuable items you ownyou own
Liability InsuranceLiability InsuranceCovers costs associated Covers costs associated with bodily injurieswith bodily injuries
Photo courtesy of Shutterstock
Chapter 2, Lesson 2Chapter 2, Lesson 2
Key to the Future
Photo courtesy of Shutterstock
Chapter 2, Lesson 2Chapter 2, Lesson 2
Most obtain health insurance through Most obtain health insurance through their employertheir employerIf you are provided options with your If you are provided options with your employer, you’ll need to do comparison employer, you’ll need to do comparison shoppingshoppingBe aware of Be aware of copaymentscopayments
It is usually a small percentage It is usually a small percentage of the total costof the total cost
Key to the Future
1.1. Indemnity plan Indemnity plan Enables you to go to any health provider to Enables you to go to any health provider to receive carereceive care
2.2. Managed care plan (HMO)Managed care plan (HMO)Requires that you consult a primary Requires that you consult a primary physician when you need medical carephysician when you need medical care
3.3. Preferred Provider Organizations (PPO)Preferred Provider Organizations (PPO)Greater flexibility Greater flexibility Higher CostsHigher Costs
Chapter 2, Lesson 2Chapter 2, Lesson 2
Key to the Future
Learning Check QuestionsLearning Check Questions
CPS Questions 7 – 8CPS Questions 7 – 8
Note for teacher: Use “Pick a Student” button in CPSNote for teacher: Use “Pick a Student” button in CPS
Chapter 2, Lesson 2Chapter 2, Lesson 2
Key to the Future
Using the descriptions provided, identify Using the descriptions provided, identify the best type of health insurance plan to the best type of health insurance plan to offer for each case study in the provided offer for each case study in the provided handout.handout.
Be prepared to share your answers with the Be prepared to share your answers with the class.class.
Chapter 2, Lesson 2Chapter 2, Lesson 2
Key to the Future
DisabilityDisabilityPurpose is to replace part of your income if Purpose is to replace part of your income if you cannot work because of injury or illnessyou cannot work because of injury or illness
Short-termShort-term insurance covers one year insurance covers one year
Long-termLong-term insurance covers from one insurance covers from one year to retirementyear to retirement
Chapter 2, Lesson 2Chapter 2, Lesson 2 Photo courtesy of Shutterstock
Key to the Future
Life insurance provides a way to protect Life insurance provides a way to protect you or your family from financial losses you or your family from financial losses
You will need to name You will need to name beneficiarybeneficiary; ; someone who will receive your benefitssomeone who will receive your benefits
Check with employers to see if it is Check with employers to see if it is offeredoffered
Chapter 2, Lesson 2Chapter 2, Lesson 2
Key to the Future
Term Life Insurance Term Life Insurance
Whole Life Insurance Whole Life Insurance
Universal Life InsuranceUniversal Life Insurance
Chapter 2, Lesson 2Chapter 2, Lesson 2 Photo courtesy of Shutterstock
Key to the Future
Identify TheftIdentify Theft is when someone uses your is when someone uses your identity without permissionidentity without permissionProtect yourself:Protect yourself:
Keep track of your financial statementsKeep track of your financial statementsCheck your credit report once a yearCheck your credit report once a yearNever give out your account numbers or personal Never give out your account numbers or personal informationinformationDestroy all financial documentsDestroy all financial documentsDon’t give your Social Security Don’t give your Social Security
number over a cordless or cell phonenumber over a cordless or cell phoneGet a locking mailboxGet a locking mailbox
Chapter 2, Lesson 2Chapter 2, Lesson 2
Key to the Future
Report the theft to your bankReport the theft to your bankReport the theft to each of your credit card Report the theft to each of your credit card companiescompaniesFile a report with the local policeFile a report with the local policeContact the Federal Trade CommissionContact the Federal Trade CommissionContact one of the 3 main credit bureausContact one of the 3 main credit bureausVisit Identity Theft Resource Center Visit Identity Theft Resource Center Investigate credit monitoring servicesInvestigate credit monitoring services
Chapter 2, Lesson 2Chapter 2, Lesson 2 Photo courtesy of Shutterstock
Key to the Future
PhishingPhishing is creating a Website replica in order to is creating a Website replica in order to trick users into submitting personal, financial, or trick users into submitting personal, financial, or password data onlinepassword data onlineTips to avoid phishing: Tips to avoid phishing:
Look for clues that the message is fakeLook for clues that the message is fakeDon’t be hastyDon’t be hastyUse common sense and trust your Use common sense and trust your
instinctsinstinctsNever give your information over the Never give your information over the
phonephone
Chapter 2, Lesson 2Chapter 2, Lesson 2 Photo courtesy of Shutterstock
Key to the Future
Learning Check QuestionsLearning Check Questions
CPS Questions 9 – 10CPS Questions 9 – 10
Note for teacher: Use “Pick a Student” button in CPSNote for teacher: Use “Pick a Student” button in CPS
Chapter 2, Lesson 2Chapter 2, Lesson 2
Key to the Future
Locate the phishing policies of common Locate the phishing policies of common Internet websites provided on worksheet.Internet websites provided on worksheet.
Prepare a written summary of the policy.Prepare a written summary of the policy.
Be prepared to share your answers with the Be prepared to share your answers with the class.class.
Chapter 2, Lesson 2Chapter 2, Lesson 2
Key to the Future
What insurance is and why it is necessaryWhat insurance is and why it is necessary
Major types of insuranceMajor types of insurance
How to protect your personal and financial How to protect your personal and financial information information
Chapter 2, Lesson 2Chapter 2, Lesson 2
Key to the Future
Review QuestionsReview Questions
CPS Questions 11 - 12CPS Questions 11 - 12
Chapter 2, Lesson 2Chapter 2, Lesson 2
Note for teacher: Use “Pick a Student” button in CPSNote for teacher: Use “Pick a Student” button in CPS
Key to the Future
We’ll learn about career We’ll learn about career opportunitiesopportunities
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Chapter 2, Lesson 2Chapter 2, Lesson 2
