Lesson Notes By Weeks and Term - Senior Secondary 3

Insurance terminologies II

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Term – 1st Term

Week: 9

Class: Senior Secondary School 3

Age: 17 years

Duration: 40 minutes of 2 periods each

Date:       

Subject:      Insurance

Topic:-       Insurance terminologies II

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 Insurance terminologies

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. Adhesion

This states that the insured must accept the entire insurance contract and all of its terms and conditions without bargaining. The insured has no opportunity to change the terms, any ambiguities in the contract.

  1. Beneficiary

This is the person, people, or entity designated to receive the death benefits from a life insurance policy.

  1. Cancellation

This is the termination of an insurance policy by a company or insured before the renewal date.

  1. Claimant

This is a person who makes an insurance claim

  1. Deductible

This is the amount the insured must pay in a loss before any payment is due from the company.

  1. Reinstatement

This is the process by which a life insurance company puts a policy back in force after it lapsed because of non-payment of renewal premiums.

  1. Binder

This is a temporary insurance contract that provides proof of coverage until a permanent policy is issued.

  1. Earned premium

This is the portion of a policy premium that has been used to actually buy coverage, or that the insured has earned. For instance, if a policy holder has a six month policy that was paid for in advance, two months into the policy, there would be two months of earned premium. The remaining four months of premium is “unearned premium”

EVALUATION:    1. Write short notes on:

  1. Adhesion
  2. Beneficiary
  3. Cancellation
  4. Claimant
  5. Deductible
  6. Reinstatement
  7. Binder
  8. Earned premium

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively