Insurance - Head Matters
As you learned in this course, most human activities involve some kind of risk either to you or your property. Insurance is a very valuable tool to balance risk. When you enter into an agreement with an insurance company, you are technically sharing the risk with that company in exchange for a monetary sum stated in the agreement.
There are many different types of insurance that cover very specific risks. The different types of insurance include: life insurance, health insurance, homeowner’s and renter’s insurance, auto insurance, disability insurance, long term care insurance, and property and casualty insurance. This list seems long, but within each type of insurance there are very specific plans that will either increase or decrease your premium. Work with a financial professional to determine how much coverage you need before you make final decisions or the risks become real.
The last step to complete the Insurance Course is to test your knowledge with a quiz. Just click "Next" to begin your quiz.
Used with permission. Virtual Economics, copyright © 2005, Council for Economic Education (formerly National Council on Economic Education), New York, NY. All rights reserved. For more information visit www.councilforeconed.org or call 1-800-338-1192.
Insurance Information Institute. (2009). Insurance Topics. Retrieved from http://www.iii.org/insurance_topics.