Lesson Plan for Senior Secondary 3 - Insurance - Insurance Terminologies Ii

**Lesson Plan: Insurance Terminologies II** **Grade Level:** Senior Secondary 3 **Subject:** Business/Commerce **Duration:** 60 minutes **Instructor:** [Your Name] --- ### Objectives: 1. To understand and define advanced insurance terminologies. 2. To differentiate between different types of insurance policies. 3. To apply insurance terms in real-life scenarios. 4. To develop skills in assessing insurance documents. ### Materials Needed: 1. Whiteboard and markers 2. Projector and computer (for presentations) 3. Handouts with definitions and examples of insurance terminologies 4. Sample insurance policies and documents 5. Notebooks and pens ### Lesson Flow: 1. **Introduction (10 minutes)** - Begin with a brief review of basic insurance terminologies covered in previous lessons. - Introduce the objectives of today's lesson: to expand upon basic insurance terminologies and delve into more advanced concepts. 2. **Lecture/Presentation (20 minutes)** - Present the advanced insurance terminologies through a PowerPoint presentation. Key terms include: - **Premium:** The amount paid for an insurance policy. - **Deductible:** The amount paid out of pocket by the policyholder before the insurance company pays a claim. - **Copayment (Copay):** A fixed amount paid by a policyholder for covered services. - **Exclusions:** Specific conditions or circumstances that are not covered by the policy. - **Rider:** An addition to an insurance policy that modifies the coverage. - **Underwriter:** The individual or entity that assesses and takes on the risk of insuring. - **Actuary:** A professional who analyzes financial risk using mathematics and statistics. - **Claims Adjuster:** Someone who investigates insurance claims to determine the extent of the insuring company's liability. - Provide examples and scenarios for each term. 3. **Activity (15 minutes)** - Distribute handouts with definitions and blank spaces next to them. - Ask students to match the terms with their correct definitions and provide an example of a scenario where each term would be applicable. - Review the answers as a class. 4. **Group Work (10 minutes)** - Divide the class into small groups and give each group a sample insurance policy document. - Each group analyzes the document to identify key terminologies discussed during the lecture. - Groups will then present their findings to the class. 5. **Q&A and Discussion (5 minutes)** - Open the floor for any questions or clarifications. - Engage students in a discussion about the importance of understanding these terminologies in real-world situations. 6. **Conclusion and Homework (5 minutes)** - Summarize key points learned in the lesson. - Assign homework: Students are to research and write a one-page report on a recent insurance case (e.g., a natural disaster, major medical claim, etc.) that highlights the importance of one or more of the advanced terminologies covered in class. ### Assessment: - Participation in class activities and group work. - Accuracy and completion of the matching definitions activity. - Quality of the one-page homework report. ### Follow-Up: - Review the homework reports in the next class and hold a brief discussion on their findings. - Plan for a quiz or test to assess students' understanding of the insurance terminologies covered. --- **Note to Instructor:** Ensure to provide real-life examples and scenarios that are relatable to the students to make the lesson more engaging. Encourage students to ask questions and participate in discussions to ensure they fully grasp the terminologies.