Standard #: SS.8.FL.6.2

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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.


Explain why homeowners buy flood insurance for $300 a year when the likelihood of a flood in their area is extremely low.

General Information

Subject Area: Social Studies
Grade: 8
Strand: Financial Literacy
Date Adopted or Revised: 06/14
Status: State Board Approved

Related Courses

Course Number1111 Course Title222
2104060: M/J Introduction to Personal Financial Literacy (Specifically in versions: 2019 - 2022 (current), 2022 - 2023, 2023 and beyond)

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