Premium Calculator: Premium vs Deductible vs Coverage
- Price per Classroom$2.00
- Grade Levels 7, 8, 9, 10
- Topics Insurance
- Duration 15 Minutes
- Auto Scored? Yes
- Teacher Evaluation Needed? No
Activity Description
In this interactive worksheet, students will use a premium calculator to understand the relationship between coverage amount, deductible, and insurance premium. By providing the coverage amount they need and the deductible they can afford, students will calculate the annual insurance premium. This activity helps students grasp how these factors interplay in determining the cost of insurance.
Objectives:
- Understand Insurance Premiums: Students will learn how coverage amount and deductible influence the insurance premium.
- Explore Coverage Options: Students will explore a set of coverage options and deductibles, gaining insights into choosing the right balance for their needs.
- Decision-Making Skills: This worksheet will help students develop decision-making skills by evaluating different insurance options based on their financial needs and capabilities.
This worksheet is designed to provide students with a practical understanding of how insurance premiums are determined, helping them make informed choices about their insurance needs.
Learning Objective
In this worksheet activity, students will be given the opportunity to choose the coverage they need for their house and the deductible they can afford, the worksheet will auto-calculate the premium. Students will have to find the premium for different given coverages and deductibles. Through this exercise, students will explore how different coverage options and deductibles influence the premium amount.
Teacher Tips
- Price per Classroom$2.00
- Grade Levels 7, 8, 9, 10
- Topics Insurance
- Duration 15 Minutes
- Auto Scored? Yes
- Teacher Evaluation Needed? No
National Standards in Personal Financial Education
Students will know that Insurance fraud is a crime that encompasses illegal actions by the buyer (e .g ., falsified claims) or seller (e .g ., representing non-existent companies) of an insurance contract .. Students will use this knowledge to 12-10a . Provide examples of insurance fraud . 12-10b . Investigate the legal consequence for individuals who are convicted of insurance fraud .