Learn about the fundamental purpose of insurance, and use this knowledge as a lens to judge the types of insurance that are must-haves and the types that are frivolous.

Competency: Jump$tart Coalition (2015), Risk Management and Insurance, “Standard 1. Identify common types of risks and basic risk management methods” (p. 31).

Introduction to American Personal Financial Literacy, a Udemy course
Module 6.2 video filmed 2016-03-08

TALKING POINTS:
Cover large and unexpected expenses
Life insurance for breadwinner makes sense
Children’s life insurance doesn’t make sense
Comprehensive and collision auto insurance not worth it for old cars
Don’t pay for trip insurance
“Cadillac” health insurance plans often overpriced
Free insurance often offered by your credit card
Extended warranties not worth it; store personnel tell lies