Lesson Notes By Weeks and Term - Senior Secondary 3

Insurance terminologies I

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Term – 1st Term

Week: 8

Class: Senior Secondary School 3

Age: 17 years

Duration: 40 minutes of 2 periods each

Date:       

Subject:      Insurance

Topic:-       Insurance terminologies I

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

  1. List and explain some insurance terminologies

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 National Pension Scheme

Students pay attention

STEP 2

EXPLANATION

He lists some insurance terminologies

 

 

Students pay attention and participates

STEP 3

DEMONSTRATION

He explains the meaning of the insurance terminologies

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

INSURANCE TERMINOLOGIES
1. Concealment:

This is the willful act of holding back information that may be pertinent to the issuance of an insurance policy even though the insured was not asked about that particular subject.

  1. Disclosure

This states that the insurer needs information from the proposer to decide whether to accept an offer or to decide the price and other terms of the insurance contract.

  1. Days of Grace

This is the period during which cover is granted by the insurer without payment of premium by the insured.

  1. Ex-Gratia payment

This is a form of payment made to the insured but not that the insured is legally entitled to it as a claim under insurance policy, but it was given to him out of kindness.

  1. Extra premium

This is a premium charge added to the premium for a class rate because of extra hazardous exposures.

  1. Endorsement

This is a written document attached to an insurance policy that modifies the policy by changing the coverage afforded under the policy.

  1. Adjuster

This is an individual employed by an insurer to evaluate losses and settle policy holder claims.

  1. Warranties

This is described as something by which the insured undertakes that some particular things shall or shall not be done or some conditions shall be fulfilled.

EVALUATION:    1. Write short notes on:

  1. Concealment
  2. Disclosure
  3. Days of grace
  4. Ex-Gratia payment
  5. Extra premium
  6. Endorsement
  7. Adjuster
  8. Warranties

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively