PFL.SS.12.G | Texas Essential Knowledge and Skills (TEKS)

Standard Unwrapping

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Vocabulary

costsbenefitssupplemental types of insuranceextended warrantiesmortgage protection life insuranceaccidental death and dismemberment life insurancecar loan payoff coveragedebt cancellation coveragecredit life coverage

Skills

explain (costs and benefits of supplemental types of insurance) #dok2
identify (different supplemental types of insurance) #dok1
compare (the benefits and drawbacks of various supplemental insurances) #dok2
analyze (factors influencing the need for supplemental insurance) #dok3

Learning Targets

I can define different supplemental insurance products such as extended warranties and debt cancellation coverage. #dok1
I can identify the various types of supplemental insurance available to consumers. #dok1
I can explain the costs and benefits of extended warranties, credit life coverage, and other supplemental insurance options. #dok2
I can compare the pros and cons of different supplemental insurance products in various situations. #dok2
I can analyze when it is advantageous to purchase supplemental insurance based on specific financial circumstances. #dok3

Big Ideas

Supplemental insurance can provide additional financial protection, but it is important to evaluate if the benefits outweigh the costs.
Understanding the purpose and terms of supplemental insurance products is key to making informed financial decisions.

Essential Questions

What are the common types of supplemental insurance available to consumers?
How do the costs and benefits of supplemental insurance products compare?
In what situations might purchasing supplemental insurance be a good financial decision?
What should you consider before choosing to add extended warranties or credit life coverage to a purchase?
How can understanding supplemental insurance protect you from unnecessary spending or financial risk?