Micro Insurance

Overview:

This lesson begins with a discussion of insurance, and specifically micro insurance and its function. Students learn the meaning of several key vocabulary terms having to do with insurance in general and read a Knowledge@Wharton article about micro insurance. Students complete several computation problems involving a micro insurance policy breaking even, and think about the relationship between the premium, the payout, the number of policyholders and the likelihood of an event/disaster taking place.

NBEA Standard(s):
  • Computation, I. Mathematical Foundations
  • Computation, II. Number Relationships and Operations
  • Computation, III. Patterns, Functions, and Algebra
  • Computation, VI. Problem-Solving Applications

Lesson Plan Details:

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