SS.8.FL.6.4

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Discuss why insurance policies that guarantee higher levels of payment in the event of a loss (coverage) have higher prices.

Remarks

Explain how a deductible affects the payout on an auto insurance claim, and how the individual’s choice of deductible affects the price of the policy at the time it is purchased.
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))

Related Access Points

Alternate version of this benchmark for students with significant cognitive disabilities.
SS.8.FL.6.AP.4: Identify why insurance policies that guarantee higher levels of payment have higher prices.

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