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.

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

Standard: Identify and analyze methods of protecting financial investments and personal information.

Date Adopted or Revised: 06/14

Status: State Board Approved

Related Courses

This benchmark is part of these courses.

2104060: M/J Introduction to Personal Financial Literacy (Specifically in versions: 2019 - 2022, 2022 - 2023, 2023 - 2024, 2024 and beyond (current))

Alternate version of this benchmark for students with significant cognitive disabilities.

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.

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