Consumer Mathematics Unit 8 introduces students to concepts of health and life insurance, exploring important terminology and strategies to evaluate each type of insurance. Students learn about factors that influence the cost of life insurance and how common life insurance policies differ in coverage and cost. Students also learn about different ways to acquire health insurance, differences between types of health insurance, and how to calculate costs. Lastly, students learn how preventative healthy lifestyle activities can reduce overall costs associated with health insurance.
In this course, students will study:
· Common types of life insurance
· How life insurance premiums are calculated
· Factors that influence the cost of life insurance
· Common types of health insurance
· Key health insurance terminology definitions
· Ways to acquire health insurance
· Strategies to choose a health insurance policy
· How healthy lifestyle choices reduce life and health insurance costs
Course Objectives
· Define the purpose of life insurance policies.
· Describe and identify different life insurance policies.
· Describe the benefits of different life insurance policies.
· Compare and contrast different forms of life insurance.
· Understand factors that impact life insurance premium costs.
· Understand how premium payment options impacts total costs.
· Know how to calculate service charge costs for different premium payment plans.
· Understand what health insurance is and how it benefits individuals, families, and the community.
· Be able to estimate health insurance coverage costs.
· Identify health insurance benefits in a variety of situations.
· Understand how health insurance works and key components of coverage (e.g., premiums, copays, deductibles, etc.)
· Understand how preventive health activities (e.g., good nutrition, regular physical activity, etc.) can reduce health care costs.
· Be able to communicate the benefits of health insurance coverage to peers and families.