Lesson Objective: At the completion of this lesson, students will be able to explain risk management through a combination of avoidance, risk, reduction, retention, and transfer.  Supplies NeededStudent Handout 1 Insurance Vocabulary (1 per student) (found in Task 2) Student Handout Answer Key1Insurance Vocabulary (found in Resource Library) Student Handout 2 You Make the Decision (1 per student) (found in Task 4) Student Handout 5 Risk Vocabulary Quiz (1 per student) (found in Task 7) Student Handout Answer Key 5 Risk Vocabulary Quiz Answer Key (found in Resource Library)  Video 1 Why Life Insurance is Important (1:49) (found in Task 1)  ReferencesEconedlink: Council for Economic Education. (n.d.). Economic Glossary. Retrieved from http://www.econedlink.org/economic-resources/glossary.phpMBA dictionary. (n.d.). Retrieved November 15, 2014, from MBAResearch and Curriculum CenterShutterstock. (n.d.) Photos. Retrieved from http://www.shutterstock.com/ 

This activity emphasizes identifying which type(s) of insurance are best used in which situations. It starts by showing a couple All State "Mayhem" commericals and having students identify which types of insurance that peril would need. From there, students are split into groups of 3-4 to create their own videos with assigned insurance types.

My famous line is always: My #1 requirement is that making your insurance videos does not require you to use your insurance (aka...nobody get injured or actually wreck anything!)

Personal Finance course FREE teacher resources and trial access to online course solution as well as a correlation to WI state standards.