Understanding Insurance
English (ELA) • 30 • 20 students • Created with AI following Aligned with Common Core State Standards
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Teaching Instructions
Rewrite the given Business Math Unit 3: Insurance text for Grade 2 students. Keep the original meaning and key vocabulary while simplifying sentences and modifying for special education needs. Use simple language and clear structure suitable for young learners. Include key concepts such as types of insurance, premiums, coverage, deductibles, and example problems in an easy-to-understand way.
Provide the adapted text in markdown format and include a short summary of the changes made.
Original text: Business Math Unit 3 Topic:: Insurance *Insurance is purchased to protect against losses *common insurance types: 1:fe home owners automobile medica( business fire Flood *premium-amount of payment that covers losses within a certain time frame. Payments can be monthly, every 6 months or by the year for a given coverage. Limitations *coverage is typically less than full välue (such as 80%o covered while insured pays the rest)
- deductible is typically required (a payment before insurance company pays their portion)
- filing a claim can be difficult, confusing and tlaim may not be paid Example problem A medical plan covers 80% of 12 expenses atter a yearly deductibleof $2,000. How much must be paid out of pocket for $30,000 in medical bills? $2,000 + $28,000 x 0.2 $2,000 + $5,600 $7,600 Automobile Insurance Types: Liability-pays losses for property and medical that person is Liable for when at fault Collision- pays losses for owner's vehicle comprehensive- pays losses from weather events and damages not resulting from an accident
- liability is collision/ required comprehensive réquired when vehicle is not paid o ff Factors ininfluencing car/vehicle insurance premium 3 *driver's age (young more expensive)*driving records
- At fault accidents and traffic tickets dramatically increase premium *type of vehicle *sports cars, expensive cars, frequently stolen vehicles are factors that increase premium
- city/location of vehicle *credit score *insurance company, including type of discounts offered Each insurance company does an involved statistical analysis of the factors that cause claims to be made in a locality examples hail storms in Colorado *fregudat hail 2 increase *A locality that tends to have more accidents increases premium Example Problem 14 A person owns a sports car and pays a $500 premiom for 6 months of coverage that includes liability ($300), collision ($100) and comprehensive ($100). The person gets a speeding ticket that increases liability and collision by 25% each and has an at fault accident that additionallyadds 35% to all categories of next coverage. what will the 6 month premium be? $400×0.25= $100 $ 500 ×0.35= $175 $500+$100+ $175=$775 *deductibles, cost of tickets will add to cost *stays on driving record typically 3 years thus 3 years of higher premiums
Grade Level
Grade 2
Duration
30 minutes
Class Size
20 students
Common Core State Standards (CCSS) Alignment
CCSS.ELA-LITERACY.RI.2.3
Describe the connection between a series of historical events, scientific ideas or concepts, or steps in technical procedures in a text.
CCSS.ELA-LITERACY.RI.2.4
Determine the meaning of words and phrases in a text relevant to a grade 2 topic or subject area.
CCSS.ELA-LITERACY.SL.2.1
Participate in collaborative conversations with diverse partners about grade 2 topics and texts with peers and adults in small and larger groups.
Learning Objectives
By the end of the lesson, students will be able to:
- Understand the basic idea of insurance as protection to help people when something is lost or broken.
- Identify simple types of insurance: home, car, and health.
- Understand key words: premium, coverage, deductible.
- Solve a simple example problem using easy numbers.
- Use new words in conversations and share understanding with classmates.
Materials Needed
- Adapted Insurance Text (provided below in markdown)
- Chart paper or whiteboard with markers
- Simple drawings or picture cards for insurance types and concepts
- Math problem cards for group work
- Paper and crayons for drawing activity
Lesson Outline
| Time | Activity | Description |
|---|---|---|
| 0-5 min | Introduction & Engagement | Teacher asks: "Have you or your family ever had to pay money to fix something or go to the doctor? This is where insurance helps." Show pictures of home, car, doctor. Briefly introduce the word "insurance." |
| 5-15 min | Read & Discuss Adapted Text | Teacher reads the adapted text aloud slowly with clear pronunciation. Pause to explain key words: premium, coverage, deductible. Show pictures for each concept. Students repeat and answer simple questions about each. |
| 15-22 min | Guided Group Activity: Simple Insurance Problem | Present a simplified insurance problem on the board. Solve together as a class step-by-step. Example: "You pay $5 every month for insurance. You go to the doctor and the bill is $10. How much do you pay yourself and how much does insurance pay?" |
| 22-28 min | Partner Talk & Drawing Activity | Students pair up and explain one insurance type to each other using their own words. Then, each draws a picture showing one type of insurance protecting someone. Teacher circulates and assists. |
| 28-30 min | Wrap-Up & Quick Check | Teacher asks students to share one thing they learned about insurance. Quick thumbs-up if they know what a premium is, or a deductible, etc. Remind students why insurance is helpful. |
Adapted Text - Insurance for Grade 2 Students
What is Insurance?
Insurance is something people buy to help them when things break or get lost. It helps pay money so people don’t have to pay a lot by themselves.
Types of Insurance
Here are some kinds of insurance:
- Home insurance: helps if your house gets broken or damaged.
- Car insurance: helps if your car gets broken or there is an accident.
- Health insurance: helps pay money for doctor visits and medicine.
Important Words
- Premium: This is the money you pay to the insurance company to keep your insurance working. You can pay a little every month or once a year.
- Coverage: This means how much money the insurance will pay to help you. Sometimes it doesn’t pay for everything.
- Deductible: This is a little money you pay first before the insurance helps with the rest.
Example to Understand
Let’s say you have a health plan that pays for 80% of doctor bills. You have to pay $2 each year first (this is the deductible). If you have a bill for $10, how much will you pay?
First, pay $2 (deductible).
Then, insurance pays 80% of $8, which is $6.40.
You pay the rest, which is $1.60.
Car Insurance Types
- Liability: Pays for damage to other people or things if you cause an accident.
- Collision: Pays to fix your car if you hit something.
- Comprehensive: Pays for damage from things like weather or theft.
What Can Change How Much You Pay?
- How old the driver is (young drivers pay more).
- If the driver has had accidents or tickets.
- What kind of car it is.
- Where the car is kept.
Summary of Adaptations
- Sentences simplified and shortened for clarity.
- Technical terms explained with simple words and examples.
- Removed complex percentage and multiplication problems, replaced with straightforward calculations using smaller numbers.
- Added relatable examples and everyday language for easier connection.
- Included visual supports suggestion and structured time for group participation, accommodating special education needs.
- Used repetition and clear definitions to reinforce vocabulary understanding.
Assessment
- Informal observation during discussions and partner talk.
- Student participation in solving the simple math problem.
- Listening for use of new vocabulary during wrap-up.
- Teacher notes on students’ ability to explain insurance types in their own words.
This lesson plan combines reading, talking, and math to help Grade 2 students grasp the basic ideas of insurance in an accessible and engaging way while meeting key Common Core standards for reading informational texts, vocabulary, and speaking & listening.
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