| Code |
Description |
| SS.8.FL.6.1: | Analyze the fact that personal financial risk exists when unexpected events can damage health, income, property, wealth, or future opportunities. |
| SS.8.FL.6.2: | Identify insurance as a product that allows people to pay a fee (called a premium) now to transfer the costs of a potential loss to a third party. |
| SS.8.FL.6.3: | Describe how a person may self-insure by accepting a risk and saving money on a regular basis to cover a potential loss. |
| SS.8.FL.6.4: | Discuss why insurance policies that guarantee higher levels of payment in the event of a loss (coverage) have higher prices. |
| SS.8.FL.6.5: | Discuss that insurance companies charge higher premiums to cover higher-risk individuals and events because the risk of monetary loss is greater for these individuals and events. |
| SS.8.FL.6.6: | Explain that individuals can choose to accept some risk, to take steps to avoid or reduce risk, or to transfer risk to others through the purchase of insurance and that each option has different costs and benefits. |
| SS.8.FL.6.7: | Evaluate social networking sites and other online activity from the perspective of making individuals vulnerable to harm caused by identity theft or misuse of their personal information. |
This cluster includes the following access points.
| Access Point Number |
Access Point Title |
| SS.8.FL.6.AP.1: | Identify the fact that personal financial risk exists when unexpected events can damage health, income, property, wealth, or future opportunities. |
| SS.8.FL.6.AP.2: | Identify insurance as a product that allows people to pay a fee now to transfer the costs of a potential loss to a third party. |
| SS.8.FL.6.AP.3: | Identify how a person may self-insure by accepting a risk and saving money on a regular basis to cover a potential loss. |
| SS.8.FL.6.AP.4: | Identify why insurance policies that guarantee higher levels of payment have higher prices. |
| SS.8.FL.6.AP.5: | Identify why drivers who receive repeated speeding tickets will see their insurance premiums increase. |
| SS.8.FL.6.AP.6: | Identify ways in which an automobile driver can avoid, reduce, or transfer the risk of being in an automobile accident. |
| SS.8.FL.6.AP.7: | Identify ways that identity thieves can obtain someone’s personal information and steps an individual can take to protect their personal information. |
