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History, Civics & Social Studies · Grade 8

Risk, Insurance and Diversification Concepts

Life involves risks: accidents, illness, lost property and investments that fall in value. Learners calculate expected loss, compare strategies for managing risk (avoid, reduce, keep, transfer), see how insurance pools risk, work out costs under a fictional health plan (premium, deductible, copay, coinsurance and out-of-pocket maximum), and explore why diversification and time horizon matter when investing. Everything is fictional and conceptual; no insurance or investment advice is given.

  • 4 lessons
  • About 125 minutes
  • Risk and insurance check: 9 questions
  • Ways to answer: fill in the blanks, choose an answer, match pairs, type a number, sort into groups and true or false
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What learners will discover

  • Calculate expected loss and compare strategies for managing risk.
  • Explain how insurance pools risk and define key insurance terms.
  • Calculate out-of-pocket costs under a fictional health plan.
  • Explain the relationship between risk and return, diversification and time horizon.

Lessons

  1. Risk and expected loss 4 steps3 practiceabout 30 min
  2. Insurance and pooling 4 steps3 practiceabout 30 min
  3. Health plan cost-sharing 5 steps3 practiceabout 32 min
  4. Risk, return and diversification 5 steps4 practiceabout 33 min
  5. Risk and insurance check 9 questions at the end

Keep exploring

More 8th grade social studies

Guide for grown-ups