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Teaching by Topic: Insurance

Here are a bunch of tips, learning objectives, worksheets, and pre-built lesson plans to help you build your curriculum to teach students about insurance!

teaching-insurance

Insurance is one of the most challenging concepts for kids but also one of the most critical for their financial protection.

You can find the materials you need to teach insurance, regardless of your students’ levels. Here are insurance lessons, worksheets, activities and games, and some essential tips –  by grade. We also include insurance learning objectives for each grade, which are pulled straight from the National Standards for Personal Finance Education.

National Standards for Personal Finance Education

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Pre-K

The topic of insurance is hard to comprehend for students this young. However, teachers can build the money math and awareness that kids will need later. Here are some links to help boost your pre-K students’ money knowledge and prepare them to learn about insurance later.

For more resources on other topics, check out our Pre-K Money Lesson Plans Center.

Kindergarten

In kinder, the idea of insurance is still too intangible to grasp. Continue working on money math and concepts like saving and making informed decisions. Try these links for supporting practice:

For more resources on other topics, check out our Kindergarten Money Lesson Plans Center.

1st Grade

Learning Objectives

1st-graders can better understand the idea of protecting their belongings and money. While they still have a ways to go to get it entirely, the curriculum can help prepare them for later learning. These students should be able to:

  • Identify types of risks that are difficult or impossible for people to reduce or avoid.

1st Grade Insurance Lesson Plans

  • KMLP 1st Grade – Spending: In this lesson, students focus on decision-making. They see the difference between wants and needs, setting the stage for the types of insurance necessary for different people.

1st Grade Insurance Worksheets

1st Grade Insurance Games and Activities

Tips for Teaching Insurance to 1st Graders

  • Focus on wants versus needs.
  • Explain that decision-making is a skill that can be learned.
  • Remind students that risk is a part of life.

For more resources on other topics, check out our 1st Grade Money Lesson Plans Center.

2nd Grade

Learning Objectives

In 2nd grade, kids continue to focus on choices. They also get into opportunity cost, which ties in with insurance and how they can manage their risk later. They should:

  • Provide examples of financial choices that have opportunity costs.

2nd Grade Insurance Lesson Plans

  • KMLP 2nd Grade – Opportunity Cost: Students see how opportunity cost works and how if they purchase one product (like specific insurance), they give up the chance to spend on something else. They read a book, watch a video, and complete activities to separate goods and services and wants vs. needs.

2nd Grade Insurance Worksheets

2nd Grade Insurance Games and Activities

Tips for Teaching Insurance to 2nd Graders

  • Show kids that every decision has consequences.
  • Work on simple budgets, separating them into categories, including insurance.
  • Use role-play and songs frequently to teach about insurance and protection.

For more resources on other topics, check out our 2nd Grade Money Lesson Plans Center.

3rd Grade

Learning Objectives

Students at this level begin to see the importance of protecting assets. They learn about risk and how to keep it in check and should be able to:

  • Investigate the types of insurance commonly available for people to purchase.

3rd Grade Insurance Lesson Plans

  • KMLP 3rd Grade – Accounts: In this lesson, students look into the various accounts they can use in money management. Teachers can tie in these concepts with managing risk, showing them different insurance vehicles they can buy to protect their money.

3rd Grade Insurance Worksheets

3rd Grade Insurance Games and Activities

Tips for Teaching Insurance to 3rd Graders

  • Keep working on wants vs. needs.
  • Continue practicing money math every day.
  • Work on explicit decision-making skills.

For more resources on other topics, check out our 3rd Grade Money Lesson Plans Center.

4th Grade

Learning Objectives

Generally, 4th-graders are ready to get more in-depth with insurance. They should be able to:

  • Give examples of risks that people and households face.
  • See that insurance is often purchased to limit financial losses due to risk.

4th Grade Insurance Lesson Plans

  • KMLP 4th Grade – Managing Risk: Students learn valuable lessons about emergency funds and insurance in this lesson. They read fables and watch videos, ending with a game about insurance to hammer the points home.

4th Grade Insurance Worksheets

4th Grade Insurance Games and Activities

Tips for Teaching Insurance to 4th Graders

  • Use literature, songs, poems, and games to get tricky topics across.
  • Focus on emergency funds in addition to insurance.
  • Use multiplication often and work money math into lessons.

For more resources on other topics, check out our 4th Grade Money Lesson Plans Center.

5th Grade

Learning Objectives

Your 5th-graders continue to see the importance of managing risk and setting aside income for insurance products. They should be able to:

  • Explain how advance planning can reduce the financial impact of an event that causes damage to personal property.

5th Grade Insurance Lesson Plans

  • KMLP 5th Grade – Budgets: Your 5th-grade students see how to create detailed budgets, including putting money into insurance to protect themselves. They compare income and expenses to prioritize what is most important, complete savings activities, and take a budget assessment.

5th Grade Insurance Worksheets

5th Grade Insurance Games and Activities

Tips for Teaching Insurance to 5th Graders

  • Provide many choices.
  • Connect academic planning strategies with personal finance and risk management.
  • Have students verbalize their reasoning and decisions frequently.

For more resources on other topics, check out our 5th Grade Money Lesson Plans Center.

6th Grade

Learning Objectives

6th-grade students dive into different insurance types, understanding that people can use various products to meet their individual needs. Students should:

  • Give examples of how people manage the risk of financial loss through risk avoidance, reduction, retention, and transfer.

6th Grade Insurance Lesson Plans

  • KMLP 6th Grade – Finance: Students learn about many components of personal finance, including risk management and insurance, through videos, note-taking, and other activities. They continue to work on money management and budgeting.

6th Grade Insurance Worksheets

6th Grade Insurance Games and Activities

Tips for Teaching Insurance to 6th Graders

  • Switch up instruction methods to reach all learners.
  • Use real-life examples of cyber criminals and identity theft.
  • Highlight the potential of insurance as a powerful tool.

For more resources on other topics, check out our 6th Grade Money Lesson Plans Center.

7th Grade

Learning Objectives

Students at this level see the ins and outs of insurance more clearly, and why companies charge more for specific customers than others. They should be able to:

  • Explain why insurers commonly charge higher premiums to people who are higher risk (e.g. auto insurance for drivers with a bad accident record, flood insurance for houses on the coastline).

7th Grade Insurance Lesson Plans

  • KMLP 7th Grade – Microeconomics: In this lesson, students understand that incentives drive consumer behavior, including insurance and other components of personal finance. They look at microeconomics and incentives in the community and see how entrepreneurs protect themselves financially.

7th Grade Insurance Worksheets

7th Grade Insurance Games and Activities

Tips for Teaching Insurance to 7th Graders

  • Kids can handle a broad range of sub-topics at this age.
  • Cover as many insurance ideas as possible.
  • Have them self-analyze behaviors to see what kind of risk tolerance they may have.

For more resources on other topics, check out our 7th Grade Money Lesson Plans Center.

8th Grade

Learning Objectives

Your 8th-graders expand their knowledge of insurance, learning about identity theft and other threats to their finances. They should be able to:

  • Explain methods used by identity thieves to obtain personal information to commit a crime.
  • Given information about premiums, deductibles, copayments, and coinsurance, calculate out-of-pocket costs for a hypothetical insured loss.

8th Grade Insurance Lesson Plans

  • KMLP 8th Grade – Managing Risk: Students learn all about insurance, including essential terms and how companies set rates based on risk. They see the types of insurance, create presentations, and watch a PowerPoint on identity theft.

8th Grade Insurance Worksheets

8th Grade Insurance Games and Activities

Tips for Teaching Insurance to 8th Graders

  • Allow students multiple ways to show knowledge.
  • Carve out consistent class time to answer questions about insurance.
  • Have students research insurance-cost tools and sites.

For more resources on other topics, check out our 8th Grade Money Lesson Plans Center.

9th Grade

Learning Objectives

At this level, your students understand the different types of insurance and now see how to find the ideal choice of products for their lives. They should be able to:

  • See why insurance premiums are lower for people who take actions to reduce the likelihood and/or financial cost of losses and for those who buy policies with larger deductibles or copayments.

9th Grade Insurance Lesson Plans

  • KMLP 9th Grade – Insurance: This lesson is all about insurance, covering the main points of what it is and how it works. Students watch a video and a presentation, take notes, and perform a skit about insurance before taking a quiz.

9th Grade Insurance Worksheets

9th Grade Insurance Games and Activities

Tips for Teaching Insurance to 9th Graders

  • Focus on one type of insurance at a time.
  • Let students act out scenarios.
  • Showcase high-profile frauds and cybercrimes in current events to raise awareness.

For more resources on other topics, check out our 9th Grade Money Lesson Plans Center.

10th Grade

Learning Objectives

Your students learn more about predatory practices and ways to protect themselves through insurance. They should be able to:

  • Evaluate the costs and benefits of buying an extended warranty on a specific item (e.g. cellphone, laptop, or vehicle) considering the likelihood of product failure, cost of replacing the item, and price of the warranty.

10th Grade Insurance Lesson Plans

  • KMLP 10th Grade – Foundations of Economics: In this lesson, students participate in activities that show the importance of having protections in place. They look at extended warranties and other ways to safeguard purchases.

10th Grade Insurance Worksheets

10th Grade Insurance Games and Activities

Tips for Teaching Insurance to 10th Graders

  • Use games to teach insurance concepts.
  • Include a lot of budgeting activities that set aside income for mandatory insurance.
  • Have students make lists of what types of insurance they need at specific ages.

For more resources on other topics, check out our 10th Grade Money Lesson Plans Center.

11th Grade

Learning Objectives

Students personalize the information presented, deciding if things like life and disability insurance are appropriate for them. They should be able to:

  • Assess the extent of financial risk and need for disability insurance using hypothetical disability scenarios.

11th Grade Insurance Lesson Plans

  • KMLP 11th Grade –The Entrepreneur’s Journey: Through analysis of an entrepreneur’s path, students see how to purchase insurance and which types make sense for different life stages. They practice identifying problems, making presentations, and playing games to cement their knowledge.

11th Grade Insurance Worksheets

11th Grade Insurance Games and Activities

Tips for Teaching Insurance to 11th Graders

  • Encourage the entrepreneurship of your students: let them dream big.
  • Show them the realities of entrepreneurship and managing the risk involved.
  • Have students research how to get discounts on auto and other insurance.

For more resources on other topics, check out our 11th Grade Money Lesson Plans Center.

12th Grade

Learning Objectives

12th-graders look at insurance in great detail, deciding what they need, and seeing how identity thieves commit crimes. They should be able to:

  • See why some types of insurance coverage are mandatory.
  • Analyze the conditions under which it is appropriate for young adults to have life, health, and disability insurance.
  • Recommend types of insurance needed by people with different characteristics.

12th Grade Insurance Lesson Plans

  • KMLP 12th Grade – Managing Risk: Students learn which types of insurance are mandatory and see how to budget for those premiums. They look into cybersecurity and identity theft and learn how to stay safe from criminals.

12th Grade Insurance Worksheets

12th Grade Insurance Games and Activities

Tips for Teaching Insurance to 12th Graders

  • Give time to research the best policies for their age and risk factors.
  • Encourage students to see what rates may be for various insurance products and incorporate those costs into their budgets.
  • Have students create risk management portfolios covering insurance, identity theft prevention, and cybersecurity benefits.

For more resources on other topics, check out our 12th Grade Money Lesson Plans Center.

About the Author

Peter Brown

Peter Brown is a National Board Certified teacher with over two decades of experience in the classroom. He loves working with students of all ages in many subjects, but particularly in practical areas like money education, to help kids achieve their goals. When he is not teaching or writing about financial literacy, you can find him surfing, hiking, skiing, or traveling to new places.

Last updated on: October 25, 2022