the benefits of being insured 2014 National Endowment for Financial Education Lesson 61 Manage Risk 1 The Painful Side of Sports What are the top three types of injuries for popular sports ID: 779926
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Slide1
Slide2Manage Risk
Tell others aboutthe benefits of being insured
©2014 National Endowment for Financial Education | Lesson 6-1: Manage Risk
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Slide3The Painful Side of Sports
What are the top three
types of injuries for popular sports
in this community?
©2014 National Endowment for Financial Education | Lesson 6-1: Manage Risk
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Slide4Preview
Today we will answer these questions:
In what ways do teens face risks which can lead to costly consequences later?
How can teens manage the risk of loss and related costs?
What are consequences of not being insured?
Use what you learn today
to inform others about reasons to be insured.
©2014 National Endowment for Financial Education | Lesson 6-1: Manage Risk
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Slide5Meet Aaron and Katie
Aaron - Grade 12
Hoping to get new job
Driver covered under family auto insurance
Car is damaged (twice!)
Katie - Grade 9
Injured soccer player; going to physical therapy
Rents school band instrument
Smartphone recently stolen
©2014 National Endowment for Financial Education | Lesson 6-1: Manage Risk
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Slide6Disasters: Destructive and Expensive
Describe an expensive disaster:
nature of the event and the date
area that was affected
estimated total losses in dollars
information source
©2014 National Endowment for Financial Education | Lesson 6-1: Manage Risk
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Slide7What are the Average Costs?
Repair torn ACL, $40,000-$65,000
Fill small cavity, $75-$160 + exam fee
Repair chipped tooth, $200-$500 + exam fee
Remove wisdom tooth, $140-$400 + anesthesia
Remove dent from car, $50-$125
Remove multiple dents in car due to hail, $1,500-$11,000
Replace typical windshield, $100-$400
Claim for property damage due to vandalism, $4,512
Sources: aarp.org, webmd.com, dentalstraighttalk.com,
yourdenstryguide.com, howmuchisit.org, costhelper.com, www.iii.org
©2014 National Endowment for Financial Education | Lesson 6-1: Manage Risk
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Slide84 Ways to Manage Risk
Avoid it
Reduce it
Accept it
Share it
©2014 National Endowment for Financial Education | Lesson 6-1: Manage Risk
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Slide9We All Feel the Impact
Imagine a world without insurance.
What would people do to avoid risk?
What would be valued by people?
What might be the economic impact?
Describe at least five ways that our lives would be different without insurance.
©2014 National Endowment for Financial Education | Lesson 6-1: Manage Risk
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Slide10Reflection
What risks to you face on a daily basis?
List at least two actions you can take
to
avoid
and/or
reduce
specific risk in your daily routine.
©2014 National Endowment for Financial Education | Lesson 6-1: Manage Risk
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Slide11Challenge
A Case for Insurance
Create a persuasive advertisement to convince your peers about the value of reducing risk in their lives along with the value of using insurance to share risk.
Pick a format for a
30- to 60-second ad:
radio ad
skit
television commercial
infomercial
music video
Prepare to share your ad with the whole class
©2014 National Endowment for Financial Education | Lesson 6-1: Manage Risk
Protect Your
Property and Health
Buy Insurance
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