Why We Need Insurance Education in High School?

When human tragedies occur, people often rely on insurance companies to pay claims. Unfortunately, there is a lack of insurance literacy among many Americans, and some insurance agents would be included in this group.

Why Insurance is a Concern?

While some people may not consider the importance of insurance, I can assure you that most of you have had an insurance claim filed on your behalf. When you were born, the doctor and hospital sent a bill for your legal guardians to pay. In most cases, the majority of the hospital bill was paid by an insurance company, if your legal guardians had health insurance. But, what happens when you go to the doctor? Usually, your doctor will submit an insurance claim to your health insurance company for the services rendered in his or her office. In addition, a lot of Americans pay for loved ones’ funerals with the proceeds of a life insurance policy. What is my point? Insurance is very important in our society; therefore, every American needs to understand various types of insurances while in high school.

Why Learn Insurance in High School?

During their teenage years, most young adults become interested in driving. The average teenager desires to gain freedom from his or her parents. As responsible drivers, young people will need to purchase their own auto insurance policy; otherwise, their parents will need to place their teenage drivers on their auto insurance policy.

Besides driving, teenagers will soon be young adults who own a home or rent an apartment and make their own doctor appointments. As young adults, these former teenagers will need to purchase some type of homeowners insurance, health insurance, and life insurance.

Learning about insurance in school may eliminate some of the lack of insurance knowledge in our society. There are too many individuals who buy insurance policies and do not understand how their insurance policies operate, with the exception of whole life insurance. I am quite sure most people understand that a whole life insurance policy pays at the insured’s death, but they may not understand how the policy’s cash value works.

Analysis

Too many adults do not understand how to read the fine print of an insurance policy. These individuals cannot be sure if their insurance policy covers their needs. As a result, insurance education needs to be a required curriculum in high school, so that we can reduce the number of insurance illiterates in our country.