Academic Context and Connections
Finer grained standards that are part of this one
What should a consumer consider when choosing insurance for particular situations?
Financially capable individuals understand that probability allows informed decision-making, such as whether the cost of insurance is less than the expected cost of illness, when the deductible on car insurance is optimal, or whether an extended warranty justifies the cost.
Financially capable individuals consider insurance as a part of a lifetime comprehensive financial plan.
Financially capable individuals demonstrate effective financial decision-making by comparing the additional costs of alternatives with the additional benefits.
How can consumers decrease insurance costs?
How will your insurance needs change during your lifetime?
How does insurance fit into an individual’s comprehensive financial plan?
How does probability relate to obtaining insurance and the cost of insurance?
Develop, plan, and organize self-behavior. (Personal Skills: Personal Responsibility)
Interpret information and draw conclusions based on the best analysis. (Entrepreneurial Skills: Critical Thinking/Problem Solving)