Key Concepts
Understanding Risk: Students learn about risk management by evaluating different insurance policies and deciding whether to take out a policy.
Insurance Policies: Students are presented with a selection of providers and policies, each with varying levels of coverage, premiums, and excess amounts. Students will learn to compare the options and select the policy that best suits their needs.
How It Works
1. Initial Quiz
Students will start with the General Insurance quiz, earning rewards for correct answers.
2. Review insurance policies available
Students will be able to view a selection of policies, relating to Contents Insurance. They will assess the different options, taking note of what is covered in each, and also decide on a level of excess for their policy.
3. Apply for an insurance policy
Once they have selected their chosen policy, students will apply select and apply for an insurance policy, reviewing the Terms and Conditions before submitting their application. The platform will then prompt them to set up an automatic payment for their weekly premiums, and this will be visible in their transaction history.
4. View and terminate policy
At any time students can view their policy, and choose to terminate it if they want to. There may be a fee incurred with terminating some policies.
5. Random Events and Claims
- If a random event occurs that aligns with their coverage, students can make a claim.
- Students must pay the policy's excess before receiving compensation for the event.
- If students opt not to take out insurance, they will bear the full financial impact of such events.
Teacher Tools
- Insurance Overview:
- Teachers can monitor which students have taken out insurance and which are uninsured via the General Insurance Overview in the expansion area.
- Contents Insurance table: You will be able to view easily how many of your students are insured or not, and also how many random events have occurred that were insured, i.e. able to be claimed, and how many were not.
See the guide at the end of this article for a visual step-through on navigating these teacher tools.
Lesson Support
To help guide your class through this expansion, a comprehensive Lesson Plan is available, including:
- Step-by-step instructions.
- Linked worksheets for in-class activities.
- Vocabulary builders to introduce key financial terms.
- Discussion ideas to promote classroom engagement and critical thinking.
- For information on how to enable expansions and access these resources, please see the related article here.