Session 8: Insurance and Financial Risk

Cover your back. Own your risk.

Session 8 helps students understand how insurance works and why it matters. It begins with the concept of risk-sharing and introduces key types of insurance – home, health, car, and travel. Students learn essential terms like premium, excess, and exclusions, and explore how policies differ based on coverage and cost. A scenario-based activity compares two student renter’s insurance policies, prompting learners to assess value, risk, and relevance. The session also touches on broader financial risks such as unemployment, illness, and accidents, encouraging students to think beyond possessions. Myth-busting tackles ideas like “Insurance is a waste of money” or “Young people don’t need cover.” The reflection prompt – “Which type of insurance would I prioritise first and why?” – helps students personalise their learning and consider their own vulnerabilities. By the end, students will understand how insurance protects against financial shocks and how to evaluate policies based on their needs. This session blends practical literacy with risk awareness and decision-making.