Understanding Insurance
GPF 205 · Module 1
This module explains insurance as a risk management tool, not just a monthly bill. Students learn how insurance transfers catastrophic risk, how health insurance costs work, and how to compare term life insurance with whole life insurance.
Lessons in this module
The Purpose of Insurance
Insurance protects you from financial losses that would be difficult or impossible to handle alone. This lesson explains risk transfer, premiums, deductibles, catastrophic risk, and when insurance is worth buying.
Health Insurance Explained
Health insurance helps manage medical costs, but the terms can be confusing. This lesson explains premiums, deductibles, copays, coinsurance, out-of-pocket maximums, HDHPs, and HSAs using a practical plan comparison.
Life Insurance: Term vs. Whole
Life insurance protects people who depend on your income, care, or financial support. This lesson compares term and whole life insurance, shows a basic coverage calculation, and explains the buy term and invest the difference idea.
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