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.
Compare the coverage and costs of hypothetical plans for a set of scenarios for various types of insurance.
Subject Area: Social Studies
Strand: Financial Literacy
Date Adopted or Revised: 04/15
Status: State Board Approved