Lesson Plan: Primary and Secondary Functions of Insurance
Grade Level: Senior Secondary 1
Subject: Economics/Business Studies
Duration: 60 Minutes
Topic: Primary and Secondary Functions of Insurance
Objectives:
- Identify the primary functions of insurance.
- Explain the secondary functions of insurance.
- Understand the importance of insurance in risk management.
- Analyze real-world applications of insurance functions.
Materials Required:
- Whiteboard and markers
- Projector and computer (for presentation)
- Handouts with key points
- Case study examples
- Quizzes or worksheets
- Small group discussion prompts
Lesson Plan Outline:
Introduction (10 minutes)
Greeting and Attendance:
- Welcome the students and take attendance.
Set the Context:
- Begin with a brief discussion on what students already know about insurance.
- Use an engaging question: “Can anyone tell me what happens when a car gets into an accident and there’s insurance involved?”
Main Lesson Content (35 minutes)
Presentation (15 minutes):
Activity (10 minutes):
- Case Study Analysis:
- Divide the class into small groups.
- Distribute a short real-world case study that involves the utilization of insurance (e.g., natural disaster recovery, health insurance case).
- Ask each group to analyze the case and identify how the primary and secondary functions of insurance apply.
Group Discussion (10 minutes):
- Reconvene and discuss insights from the case study analysis.
- Encourage each group to share their findings.
- Tie the discussion back to the lesson objectives and real-life importance.
Conclusion (10 minutes)
Recap and Summary:
- Review the key points covered in the lesson.
- Re-emphasize the importance of understanding both primary and secondary functions of insurance in everyday life and business.
Q&A Session:
- Open the floor for any questions or final clarifications.
Quiz/Worksheet:
- Distribute a brief quiz or worksheet to assess students’ understanding.
- Collect the completed quizzes/worksheets for evaluation.
Assignment (Optional):
- Assign a short homework task like an essay or a report on how insurance has impacted a specific sector (e.g., healthcare, automotive, home insurance).
Assessment:
- Participation in group activities and discussions.
- Performance on the quiz/worksheet.
- Understanding demonstrated through questions and feedback.
Reflective Notes (Post-Lesson):
- Note down any areas where students seemed to struggle or showed particular interest.
- Adjust future lessons based on the effectiveness of the activities and overall student engagement.
This lesson plan aims to provide Senior Secondary 1 students with a comprehensive understanding of the primary and secondary functions of insurance, reinforcing concepts through discussion, real-world application, and interactive learning activities.