Lesson Notes By Weeks and Term - Senior Secondary 2
Credit insurance I
Credit insurance I
Term – 1st Term
Week: 11
Class: Senior Secondary School 2
Age: 16 years
Duration: 40 minutes of 2 periods each
Date:
Subject: Insurance
Topic:- Credit insurance I
SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to
INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source
INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures
INSTRUCTIONAL PROCEDURES
PERIOD 1-2
|
PRESENTATION |
TEACHER’S ACTIVITY |
STUDENT’S ACTIVITY |
|
STEP 1 INTRODUCTION |
The teacher reviews the previous lesson on fidelity guarantee insurance |
Students pay attention |
|
STEP 2 EXPLANATION |
He defines credit and credit insurance
|
Students pay attention and participates |
|
STEP 3 DEMONSTRATION |
He highlights the factors to be considered before granting credit insurance |
Students pay attention and participate |
|
STEP 4 NOTE TAKING |
The teacher writes a summarized note on the board |
The students copy the note in their books |
NOTE
CREDIT INSURANCE
Credit is a system of buying and selling without immediate payment been
made. It is a system whereby the buyer receives goods or accept service in
return for his promise that payment will be made on or before a specified
period.
CREDIT INSURANCE
Credit insurance provides a business with protection against the failure of
customer to pay their trade credit debts. This form of policy tends to protect
the seller against loss due to inability or unwillingness on the part of the
buyer to pay for goods sold and delivered to him, or services rewarded on
credit terms. This policy, the seller ensures that if his debtor fails to pay, he
can recover at least part of his money. Credit insurance excludes hire
purchase business considered to be legitimate field of the banking sector
and members of the public because of the difficulties in the assessment of
such risk. It deals with normal trade involving sales and delivery of goods
and provision of services
FACTORS TO BE CONSIDERED BEFORE GRANTING CREDIT
INSURANCE
The major factors which the insurer takes into consideration before
granting this form of cover are:
not.
EVALUATION: 1. Define
2. State the two major factors to be considered before granting credit insurance
CLASSWORK: As in evaluation
CONCLUSION: The teacher commends the students positively