Grade: Senior
Subject: other

#4410. Financial Survival Planning

other, level: Senior
Posted Thu Apr 8 09:05:22 PDT 2010 by Dennis Hayashi (Dennis Hayashi).
Next Generation of Financial Literacy Education
LIFE Foundation, Alexandria, VA
Materials Required: computer with internet access
Activity Time: various
Concepts Taught: financial planning, health, life, disability insurance

What do you know. . .about Disability Income Insurance?
Knowledge assessment quiz with class discussion and share. Activity encompasses math skills
and critical thinking/reasoning.
Introduction to disability income insurance. This is a type of insurance students may not be
familiar with, but it is one that can be very important to their families and to them when they
start working.
Learning Objective
Help students understand the role of disability income insurance in protecting income now
and in the future. At the same time, students will learn the importance of purchasing other
types of insurance (health) and accumulating savings.
Resources/materials Needed
What Do You Know quiz questions (see Lesson Script/Teaching Steps in this lesson) and the
What Do You Know answer key to present on cards, flip chart or as PowerPoint. Sheets can be
printed and distributed to put in students' Lesson Folder.
Student Handouts/Activities
Insure Me Disability Info Sheet
Coming to Terms Disability Glossary
Long and Short of It
Taking Care of Business -- Part 1: A Brown Family Activity
Taking Care of Business -- Part 2: A Brown Family Activity
Johnny's Lucky Break: A Brown Family Activity
Subject/Skill Focus
Critical thinking, analysis of written material, practical math skills.
Lesson Script/ Teaching Steps
Many of your students may not know about disability income insurance, but it's a type of
insurance that could be very important to their families and to them when they start working.
In fact, it is more likely for a young adult to become disabled than to die.
One in five Americans (20%) will become disabled for a year or more before age 65.
An average of 2,370 disabling injuries occurs every hour in the U.S., according to the
National Safety Council.
lesson: what do you know?
guide disability insurance
Estemated time:
90 minutes
Review the Insure Me Disability Information Sheet, the glossary of terms and the Knowledge
Assessment Quiz in preparation for your discussion. Following your initial discussion, you can
hand out the sheets and glossary to the class.
Prepare a short five-question Knowledge Assessment Quiz to present to class.
1. What is a disability?
2. Can you name the most common disabilities for which claims are filed?
3. Who is likely to become disabled?
4. What does disability income insurance do?
5. Who pays for it?
Choose a style and format that will be most interesting and relevant to your class.
For example:
Put questions and answers on cards you or students can read.
Plan to read questions and have answers written on flip chart pages that you can reveal
after each question.
If you have students who know PowerPoint and you have access to the program, create
a simple interactive PowerPoint Q&A that you can use in pre and post discussion and postlesson
skills assessment.
After you have conducted the quiz and presented the answers, hand out the Insure Me
Disability student handout and Coming to Terms: Disability Income Insurance Glossary,
along with a sample Disability Policy. Briefly discuss how disability policies work, and ask
students to share any experiences they have had with disability income insurance through
friends or family.
Educator Note
The idea is to provide students with an understanding of how disability income insurance works
and the important role it can play in a person's or family's financial security. If student questions
are getting too detailed or you cannot confidently answer their questions, write those questions on
the flip chart or board. Tell the class that you will revisit those questions after the entire disability
segment is complete. At that time, the class can see how many questions they are able to answer.
Remaining questions can be handed out as short assignments for students to research and share
with the class.
lesson: what do you know?
guide disability insurance
The Long and Short of Disability Income Insurance
This part of the activity is designed to illustrate the differences between shortterm
and long-term disability income insurance.
Begin by asking your students to explain the term "short-term disability income
insurance." Then ask them to explain the term "long-term disability income
insurance." (Or have them read the definitions aloud from the Disability Income
Insurance glossary and explain how they interpret the definitions.)
Next, hand out the Long and Short of It student sheet.
Have students work in small groups to complete the answers to the situations.
Call on the groups to give and explain their answers. What do they think about
disability insurance now?
The Brown Family and Disability Income Insurance
There are three Brown family-related worksheets (featuring the Brown friends
and family characters that students became familiar with in the Introduction to
Insurance) that will further illustrate the value of disability income insurance.
All three worksheets help illustrate the impact of disability insurance at different
life stages. All three can be conducted as group activities that include role-play
and point/counterpoint discussion.
For, example, in Taking Care of Business 2, a student playing Janet can explain to
the Inabes why they should have disability insurance. Students playing the couple
can counter with why they think they are better off saving the premiums and not
buying a disability policy.
As with all Brown family activities, you may want to divide students into teams
to conduct the activities using information on other Brown family members they
have "met" during the program. This allows students to understand the full range
of impact of various types of insurance at different life stages. You may also want
to have students expand the family tree by creating new characters for the family
that reflect situations that may be more familiar to your students.
Pre- and post-lesson quiz. After the disability insurance segment is complete, conduct
the 5-question quiz again and compare results. If you want to let students participate
in creating a more detailed post-assessment vehicle, you may have them add questions
to the quiz related to material covered in the lessons.
lesson: what do you know?
guide disability insurance