My Insurance Teacher s Guide Introduction to the Unit... 2 What are the activities? What is the assessment? What are the activity descriptions? How does this unit align with the Common Core State Standards? Alignment with the Common Core State Standards for Reading... 3 Alignment with the Common Core State Standards for Writing... 4 Alignment with the Common Core State Standards for Mathematics... 5 Activity Descriptions... 6-10 Category 1 Auto Insurance... 6 Category 2 Health Insurance... 7-8 Category 3 Life Insurance... 9 Category 4 Property Insurance... 10 Category 5 You Decide... 10
Introduction To the Unit 2 What are the activities? My Insurance contains 21 current activities that let your students do so much more than just read and answer questions. They will use their reading skills, writing skills, math skills and creative skills while they learn about the various type of insurance they will use throughout their lives. The activities are divided into the following five categories: Auto Insurance Health Insurance Life Insurance Property Insurance You Decide Each activity includes: One or more reproducible student pages A teacher s key with answers Step-by-step math solutions where appropriate What is the assessment? An Assessment is also included that can be used as a pre-test as well as a post-test to evaluate what your students have learned and to identify those areas that might require additional instruction. The assessment includes: 20 True or False questions 3 multi-step math problems 4 multiple decision questions What are the activity descriptions? This guide includes a detailed description of each activity in the unit to help you choose the activities that best meet your needs. How does this unit align with the Common Core State Standards? The anchor standards for Reading, Writing and Mathematics are listed on pages 3-5 and each anchor standard that aligns with the activities in My Insurance is indicated with a red arrow. Each activity description on pages 6-10 also includes one or more of the following statements indicating if the activity aligns with the Common Core State Standards for Reading, Writing and/or Mathematics.
CCSS Reading Alignment 3 Common Core State Standards for Literacy in History/Social Studies, Science and Technical Subjects Each of the following anchor standards for reading which is aligned with activities in My Insurance has been marked with a red arrow. Where a specific term or statement is particularly applicable it has been highlighted. College and Career Readiness Anchor Standards for Reading Key Ideas and Details 1. Read closely to determine what the text says explicitly and to make logical inferences from it; cite specific textual evidence when writing or speaking to support conclusions drawn from the text. 2. Determine central ideas or themes of a text and analyze their development; summarize the key supporting details and ideas. 3. Analyze how and why individuals, events, or ideas develop and interact over the course of a text. Craft and Structure 4. Interpret words and phrases as they are used in a text, including determining technical, connotative, and figurative meanings, and analyze how specific word choices shape meaning or tone. 5. Analyze the structure of texts, including how specific sentences, paragraphs, and larger portions of the text (e.g., a section, chapter, scene, or stanza) relate to each other and the whole. 6. Assess how point of view or purpose shapes the content and style of a text. Integration of Knowledge and Ideas 7. Integrate and evaluate content presented in diverse formats and media, including visually and quantitatively, as well as in words. 8. Delineate and evaluate the argument and specific claims in a text, including the validity of the reasoning as well as the relevance and sufficiency of the evidence. 9. Analyze how two or more texts address similar themes or topics in order to build knowledge or to compare the approaches the authors take. Range of Reading and Level of Text Complexity 10. Read and comprehend complex literary and informational texts independently and proficiently.
CCSS Writing Alignment 4 Common Core State Standards for Literacy in History/Social Studies, Science and Technical Subjects Each of the following anchor standards for writing which is aligned with activities in My Insurance has been marked with a red arrow. Where a specific term or statement is particularly applicable it has been highlighted. College and Career Readiness Anchor Standards for Writing Text Types and Purposes 1. Write arguments to support claims in an analysis of substantive topics or texts using valid reasoning and relevant and sufficient evidence. 2. Write informative/explanatory texts to examine and convey complex ideas and information clearly and accurately through the effective selection, organization, and analysis of content. 3. Write narratives to develop real or imagined experiences or events using effective technique, well-chosen details and wellstructured event sequences. Production and Distribution of Writing 4. Produce clear and coherent writing in which the development, organization, and style are appropriate to task, purpose, and audience. 5. Develop and strengthen writing as needed by planning, revising, editing, rewriting, or trying a new approach. 6. Use technology, including the Internet, to produce and publish writing and to interact and collaborate with others. Research to Build and Present Knowledge 7. Conduct short as well as more sustained research projects based on focused questions, demonstrating understanding of the subject under investigation. 8. Gather relevant information from multiple print and digital sources, assess the credibility and accuracy of each source, and integrate the information while avoiding plagiarism. 9. Draw evidence from literary or informational texts to support analysis, reflection, and research. Range of Writing 10. Write routinely over extended time frames (time for research, reflection, and revision) and shorter time frames (a single sitting or a day or two) for a range of tasks, purposes, and audiences.
CCSS Mathematics Alignment 5 Common Core State Standards For Mathematics Each of the following anchor standards for mathematics which is aligned with activities in My Insurance has been marked with a red arrow. Standards for Mathematical Practice 1. Make sense of problems and persevere in solving them. 2. Reason abstractly and quantitatively. 3. Construct viable arguments and critique the reasoning of others. 4. Model with mathematics. 5. Use appropriate tools strategically. 6. Attend to precision. 7. Look for and make use of structure. 8. Look for and express regularity in repeated reasoning.
Activity Descriptions for Auto Insurance 6 Category 1: Auto Insurance Getting Covered Students will read eight situations involving auto insurance. They will decide which types of auto insurance coverage would be used in each situation. An explanation of each type of insurance coverage is provided. Gary s Auto Insurance Students will use an outline of Gary s auto insurance policy to answer a series of questions related to his insurance coverages and premiums. Michelle s Auto Insurance Students will use an outline of Michelle s auto insurance policy to answer a series of questions related to her insurance coverages and premiums. Teen Car Insurance Premiums Students will calculate the increase in auto insurance premiums for teen drivers based on a series of driving violations and accidents. They will calculate the percentage change in the consumer price index for auto insurance from 2000 through 2009. They will complete 18 fill in the blank statements pertaining to teen driving by choosing terms from a list that is provided. They will also write their opinion of whether teenagers should be allowed to drive at age 16.
Activity Descriptions for Health Insurance 7 Category 2: Health Insurance Types Of Health Insurance Students will read ten situations involving health insurance. They will decide which types of health insurance fit each situation. An explanation of each type of insurance coverage is provided. The 2010 Health Care Reform Act Students will read a one page description of the health care crisis in the United States and the major components of the 2010 Health Care Reform Act. They will write their opinions concerning what is good and bad about the reform act and how they believe the health care system should be reformed. Getting Health Insurance At Work Students will complete a chart illustrating the change from 2000 through 2009 in the amounts employees pay toward their employer provided health insurance. They will explain why they think the employee share has been increasing. Using a table that is provided, they will answer questions concerning the change from 1999 through 2009 in the percentage of employers offering their employees health insurance as a fringe benefit. What Do You Think? Students will read seven statements made by people who are affected by the health insurance crisis. They will explain why they agree or disagree with each person s statement. Pinnacle Health Insurance Using a Pinnacle health insurance policy outline that is provided, students will calculate the amounts the insurance policy would pay toward several medical bills and how much the policyholder would have to pay. They will also answer questions related to the insurance policy outline. Metropolitan Health Insurance Using a Metropolitan health insurance policy outline that is provided, students will calculate the amounts the insurance policy would pay toward the medical bills of several employees of Bowman Publishing and how much each employee would have to pay.
Activity Descriptions for Health Insurance 8 Category 2: Health Insurance National Health Insurance: Pro or Con Students will explain why they think a national health insurance system should or should not be created. The Think Tank Students will be divided into Think Tank teams that must develop a model for a new National Health Insurance Plan which will guarantee health care to everyone in the United States. Tasks will be assigned to individual members and to each team as a whole.
Activity Descriptions for Life Insurance 9 Category 3: Life Insurance Term Insurance Students will read a description of term life insurance. They will answer a series of questions related to a term life insurance policy outline that is provided. Decreasing Term Insurance Students will read a description of decreasing term life insurance. They will answer a series of questions related to a decreasing term life insurance policy outline that is provided.. Whole Life Insurance Students will read a description of whole life insurance. They will answer a series of questions related to a whole life insurance policy outline that is provided. Limited Payment Whole Life Insurance Students will read a description of limited payment whole life insurance. They will answer a series of questions related to a limited payment whole life insurance policy outline that is provided. Endowment Insurance Students will read a description of endowment life insurance. They will answer a series of questions related to an endowment life insurance policy outline that is provided. Universal Life Insurance Students will read a description of universal life insurance. They will answer a series of questions related to a universal life insurance policy outline that is provided..
Activity Descriptions for Property Insurance Activity Descriptions for You Decide 10 Category 4: Property Insurance Steve s Renter s Insurance Students will answer a series of questions related to Steve s renter s insurance. A policy outline and explanation of coverages is provided. Homeowner s Insurance Students will answer a series of questions related to Louis and Karen Ramos homeowner s insurance. A policy outline and explanation of coverages is provided. Category 5: You Decide Mike s Insurance Students will read six situations involving Mike s insurance and explain why they believe he made a good or bad decision in each situation.
C. W. Publications My Insurance Limited Payment Whole Life Insurance Use the limited payment whole life insurance policy outline below and the description of limited payment whole life insurance on page 2 to answer each of the questions on the bottom of this page. Age Annual Dividends National Mutual Life Insurance Company $10,000 of Twenty Pay Life Insurance Accumulated Dividends 18 0.00 0.00 19 34.40 34.40 20 49.00 85.46 21 63.00 153.59 22 77.00 239.81 45 237.00 7,513.16 Death Benefit 10,000.00 10,034.00 10,085.00 10,154.00 10,240.00 17,513.00 Cash Value 1. What is the face value of this policy? $ 2. What is the cost of each $1,000 of insurance coverage? $ 3. What is the yearly premium? $ 4. Is this a participating or non-participating policy? Participating Non-Participating 5. Can this policy be changed to whole life? Yes No 6. If the policyholder failed to pay the premium, would the policy be lost? Yes No 7. What is the death benefit at age 22? $ 8. Why is the death benefit increasing? 9. What are the accumulated dividends at age 45? $ 10. What two factors are causing the accumulated dividends to increase? 11. How much could the policyholder borrow from the policy at age 50? $ 0.00 0.00 22.00 128.40 441.20 6,303.60 Paid Up Insurance 0.00 120.00 410.00 1,320.00 3,360.00 25,800.00 50 271.50 12,899.35 22,899.00 7,001.52 30,148.00 55 306.00 22,323.60 32,324.00 7,779.40 36,460.00 60 340.50 30,070.08 40,070.00 8,448.00 44,900.00 65 379.00 36,378.70 46,379.00 9,960.00 50,500.00 The $265 yearly premium includes disability waiver or premium, convertibility and automatic premium loan. Sample Do Not Reproduce 12. If the policyholder borrowed as much as possible at age 55 and then died, how much would the beneficiary receive? (Assume dividends are accumulating.) 13. If the policyholder cashed in the policy at age 65, how much would be received from the company? (Assume dividends are accumulating with the company.) $ $ 14. How much paid up insurance could be purchased at age 60? $ Name: Period: C. W. Publications PAGE 1
C. W. Publications Limited Payment Whole Life Insurance Limited Payment Whole Life is a special form of whole life insurance. In fact, these two types of insurance differ in only one way. Instead of paying premiums* each year (as is done with whole life insurance), limited payment allows the policyholder to pay larger premiums for a shorter period of time and then be done with premium payments while the insurance coverage continues. Consider the difference between purchasing a $10,000 whole life policy or a $10,000 ten year limited payment whole life policy (referred to as ten pay life). The premium for the whole life policy might be $150 per year as long as the coverage is kept. The premium for the limited payment policy might be $750 per year for only ten years. The premiums would then stop, but the insurance coverage would remain in force for the policyholder's entire life. The actual size of the premium for any limited payment policy would depend on the number of years the policyholder wishes to pay premiums and the amount of money the insurance company would expect to receive (on average) from their regular whole life insurance. Since premiums for limited payment are higher than for the same whole life coverage, cash values grow more quickly and in the case of death the loss of savings is greater (refer to the explanation of whole life insurance.) Sample Do Not Reproduce Name: Period: C. W. Publications PAGE 2
C. W. Publications Limited Payment Whole Life Insurance Answer Key Page 1 1. $10,000 2. $26.00 3. $265.00 4. Participating 5. Yes 6. No 7. $10,240 8. Dividends are being added. 9. $7,513.16 10. Interest and Annual Dividends 11. $7,001.52 12. $24,544.60 13. $46,338.70 14. $44,900.00 Sample Do Not Reproduce C. W. Publications KEY