| Code |
Description |
| SS.912.FL.6.1 (Discontinued after 2023-2024): | Describe how individuals vary with respect to their willingness to accept risk and why most people are willing to pay a small cost now if it means they can avoid a possible larger loss later. |
| SS.912.FL.6.10 (Discontinued after 2023-2024): | Compare federal and state regulations that provide some remedies and assistance for victims of identity theft. |
| SS.912.FL.6.2 (Discontinued after 2023-2024): | Analyze how judgment regarding risky events is subject to errors because people tend to overestimate the probability of infrequent events, often because they’ve heard of or seen a recent example. |
| SS.912.FL.6.3 (Discontinued after 2023-2024): | Describe why people choose different amounts of insurance coverage based on their willingness to accept risk, as well as their occupation, lifestyle, age, financial profile, and the price of insurance. |
| SS.912.FL.6.4 (Discontinued after 2023-2024): | Explain that people may be required by governments or by certain types of contracts (e.g., home mortgages) to purchase some types of insurance. |
| SS.912.FL.6.5 (Discontinued after 2023-2024): | Describe how an insurance contract can increase the probability or size of a potential loss because having the insurance results in the person taking more risks, and that policy features such as deductibles and copayments are cost-sharing features that encourage the policyholder to take steps to reduce the potential size of a loss (claim). |
| SS.912.FL.6.6 (Discontinued after 2023-2024): | Explain that people can lower insurance premiums by behaving in ways that show they pose a lower risk. |
| SS.912.FL.6.7 (Discontinued after 2023-2024): | Compare the purposes of various types of insurance, including that health insurance provides for funds to pay for health care in the event of illness and may also pay for the cost of preventative care; disability insurance is income insurance that provides funds to replace income lost while an individual is ill or injured and unable to work; property and casualty insurance pays for damage or loss to the insured’s property; life insurance benefits are paid to the insured’s beneficiaries in the event of the policyholder’s death. |
| SS.912.FL.6.8 (Discontinued after 2023-2024): | Discuss the fact that, in addition to privately purchased insurance, some government benefit programs provide a social safety net to protect individuals from economic hardship created by unexpected events. |
| SS.912.FL.6.9 (Discontinued after 2023-2024): | Explain that loss of assets, wealth, and future opportunities can occur if an individual’s personal information is obtained by others through identity theft and then used fraudulently, and that by managing their personal information and choosing the environment in which it is revealed, individuals can accept, reduce, and insure against the risk of loss due to identity theft. |
This cluster includes the following access points.
| Access Point Number |
Access Point Title |
| SS.912.FL.6.AP.1: | Discuss small costs now as it relates to avoiding larger losses later. |
| SS.912.FL.6.AP.2: | Discuss how judgment regarding risky events is often influenced by information from others. |
| SS.912.FL.6.AP.3: | Discuss why people choose different amounts of insurance coverage. |
| SS.912.FL.6.AP.4: | Discuss governmental and contract requirements for purchasing some types of insurance |
| SS.912.FL.6.AP.5: | Discuss costs involved in using an insurance policy as it relates to risks, deductibles and copayments |
| SS.912.FL.6.AP.6: | Discuss that people can lower insurance premiums by behaving in ways that show they pose a lower risk. |
| SS.912.FL.6.AP.7: | Compare the purposes of various types of insurance. |
| SS.912.FL.6.AP.8: | Discuss that government benefit programs provide a social safety net. |
| SS.912.FL.6.AP.9: | Discuss ways to manage personal information to prevent identity theft. |
| SS.912.FL.6.AP.10: | Compare federal and state regulations that provide assistance for victims of identity theft. |
Vetted resources educators can use to teach the concepts and skills in this topic.
