SS.912.FL.6.5

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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).

Remarks

Given an accident scenario, calculate the amount that would be paid on an insurance claim after applying exclusions and deductibles.
General Information
Subject Area: Social Studies
Grade: 912
Strand: Financial Literacy (Discontinued after 2023-2024)
Standard: Protecting and Insuring
Date Adopted or Revised: 04/15
Status: State Board Approved

Related Courses

This benchmark is part of these courses.
2102800: Florida’s Preinternational Baccalaureate Comparative Economics With Financial Literacy (Specifically in versions: 2014 - 2015, 2015 - 2022, 2022 and beyond (current))
2102335: Economics with Financial Literacy (Specifically in versions: 2014 - 2015, 2015 - 2018, 2018 - 2022, 2022 - 2024 (course terminated))
2102340: Economics with Financial Literacy for Credit Recovery (Specifically in versions: 2015 - 2018, 2018 - 2022, 2022 and beyond (current))
2102345: Economics with Financial Literacy Honors (Specifically in versions: 2014 - 2015, 2015 - 2018, 2018 - 2022, 2022 - 2024 (course terminated))
7921022: Access Economics with Financial Literacy (Specifically in versions: 2014 - 2015, 2015 - 2018, 2018 - 2023, 2023 and beyond (current))
2102372: Personal Financial Literacy (Specifically in versions: 2015 - 2018, 2018 - 2019, 2019 - 2022, 2022 and beyond (current))
2102374: Personal Financial Literacy Honors (Specifically in versions: 2015 - 2018, 2018 - 2019, 2019 - 2022, 2022 and beyond (current))
7921021: Access Personal Financial Literacy (Specifically in versions: 2019 - 2023, 2023 and beyond (current))

Related Access Points

Alternate version of this benchmark for students with significant cognitive disabilities.
SS.912.FL.6.AP.5: Discuss costs involved in using an insurance policy as it relates to risks, deductibles and copayments

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