Key Concepts

Types of Personal Risk Insurance:

  • Private Medical Cover: Provides financial support for healthcare-related expenses.
  • Income Cover: Protects against loss of income due to unforeseen circumstances.

Cost and Coverage Choices:

  • Students assess policies based on premiums, coverage levels, and the impact of choosing different excess amounts.

How It Works

  1. Initial Quiz:

    • Students start with the Personal Risk Insurance Quiz, earning rewards for correct answers.

  2. Application Process:

    • Students complete a basic application form to view available options for Private Medical Cover and Income Cover.
    • They can choose to apply for one or both insurance policies, or opt not to apply at all.

  3. Automatic Payments:

    • After selecting a policy, students set up an automatic payment from their preferred account to cover weekly premiums.

  4. Policy Options:

    • Students review various providers and policies, considering factors like:
      • Premium costs.
      • Coverage levels.
      • Excess amounts and their effect on premiums.

Teacher Tools

  • Student Insurance Overview:
    • Teachers can track which students have taken out Private Medical Cover and/or Income Cover.
    • The Personal Risk Insurance Overview provides a summary of fully covered students, accessible at the bottom of the expansion area.

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.