Lesson is from this website:

https://www.ngpf.org/curriculum/insurance/activities/

The objective of this activity is to teach students about 5 different types of insurance they will likely need in their lives and the various factors that determine how much they will pay for each premium. This activity can be used as a fun hook to introduce your students to types of insurance (but use it however you’d like, of course.) Students may need a primer on vocabulary terms prior to doing this activity (e.g. Deductible, Premium, etc.)

https://docs.google.com/document/d/1KzxVgn5O59elhsS3ssR10en706vcn8C1EoIyzEQCUJE/edit

Before class

Prepare the game

Print out decks and worksheets

Insurance Cards

https://docs.google.com/document/d/1eUWMMQ-d7TZZzCO70qbZOVWvaxW-orVg_kK-NY6tTHk/edit

Factor Cards

https://docs.google.com/document/d/1HBevRceiQX2BrVMP7tWzcrWXSz3wx9xX2sha68iTswA/edit

Worksheets

https://docs.google.com/document/d/1Qwh8tn3ivyVkj9wGq0Xga0O13srGayn7TLjNiENdd5E/edit

Begin class

Distribute the cards to your students. Make sure that all 5 Insurance Cards have been passed out and that the remainder of the students each have 1 Factor Card. Keep any remaining Factor Cards to the side - you’ll come back to them at the end of the game.

Explain to your students that 5 people in the class have an Insurance Card that has a specific type of insurance and its description. The other students have a card with a factor that can impact how much a person will pay for an insurance premium. However, some students may be holding a “wild” Factor Card that does not apply to any of the 5 insurance types!

Have students with Insurance Cards stand in 5 different areas of the classroom and read aloud their type of insurance and its description. As the descriptions are being read aloud, students with Factor Cards should be thinking about which type of insurance premium their factor would impact.

Once the insurance descriptions have been read aloud, take a moment to see if any of the students have questions. Note that students just need to have a basic idea of what each type of insurance covers to continue the rest of the activity.

The students with Factor Cards will now get up and stand by the type of insurance premium they think their factor impacts. BEFORE they do, be sure to review the following with the students:

The students’ goal is to make sure they are matching their factor with an insurance type as accurately as possible. As students start to form groups, they should discuss with one another on whether they agree or disagree that the factors are accurate. If a group decides that a certain factor(s) is not the best fit for an insurance type, the student with that Factor Card should reconsider where to go.
Designate a 6th spot in the classroom for students with Wild Factor Cards. Students should NOT go to the Wild Factor Card spot first - they should try to see if their factor fits into an insurance type and discuss with their peers.
Tell students with Factor Cards that there may be some repeats (e.g. multiple people may have “age” as a factor card), so they should check to see if there are any duplicates in the group.

Once students have finalized their groups, have each group read aloud their type of insurance and its factors. Identify any incorrect factors and have those students come to the front of the classroom with their Factor Card. Do not reveal which type of insurance they actually belong to! Do the same thing with the students in the Wild Factor Card group - if they are correct, they can stay where they are; if they are wrong, ask them to come to the front of the classroom.

After all the incorrect factors have been identified from each group, read aloud any extra Factor Cards you have. You may wish to write them on the board or post them somewhere the students can see them.

Explain to students that, as a class, they now have to determine where the extra Factor Cards and the students at the front of the classroom should go. The class should discuss each Factor Card one at a time and come to a consensus.

Students will likely have differing opinions, so be sure to ask them to explain their reasoning. The class may agree more easily on some factors and debate on others.
Once the class has determined where a factor should go, reveal the answer! Students and extra Factor Cards should move to their correct group once the answer is revealed.

Part III: Post Game Reflection

Once each group has its correct factors, hand out the corresponding worksheet to each group and have them answer the questions. Students with wild Factor Cards can join one of the insurance groups to work with. You may choose to have each group share their answers out loud to the class.

Teacher Tip: Time permitting, have students read the accompanying article for each insurance type (linked in the Answer Key for this activity) so that they can learn more about how each factor affects the premium for their insurance type. Each group can share what they found with the rest of the class.

Ways to Modify The Game:

Instead of giving 5 of your students the Insurance Cards, post these cards up around your room and give each student a Factor Card. Students then form groups next to the Insurance Card they think their factor impacts. The rest of the game continues in the same way.
Instead of playing this game as a whole class, you can make this a group activity by dividing students into groups and providing each group with their own deck of Insurance and Factor Cards. Each group has to accurately match their Factor Cards with the Insurance Cards and identify which Factor Cards are “wild”. The group that most accurately matches the cards “wins”! (Note: Instead of handing out the worksheets in Part III, you can ask the questions aloud to the class and have a whole-class discussion.)

Bonus Idea: If you decide to play the game as a whole class and have multiple class periods, you can turn this game into a competition between your classes by seeing which class most accurately matches the cards.