Worksheet · Insurance, pensions and taxes
The path is primarily for ages 13–18 and adult beginners. Younger children can learn alongside a parent or teacher. Levels describe prior knowledge, not a guarantee of suitability for every age.
What you will learn
- Compare two fictional policies with identical cover: A costs ILS 600 yearly with an 800 deductible; B costs 900 with a 300 deductible. Calculate cost with no claim and with one covered loss of 2,000. No single answer suits everyone.
- Make a fictional table with event, damage, insurance type to investigate and one coverage question. Use these three examples without names, medical records or real policies.
- For two fictional insurance cards, record indemnity or fixed benefit, covered event, limit, deductible and an exclusion. Mark missing facts before deciding whether they overlap.
Suggested 30–40 minute session: 5 minutes of discussion, 10 minutes of reading and examples, 15 minutes in pairs and 5–10 minutes explaining and correcting. Assess understanding and reasoning, not simulated profit. Worksheets print without student accounts.
Learn together: choose one concept, read the example and ask the learner to explain it in their own words. Do not ask children for household income, bank documents or account numbers. Use invented figures.
How insurance works: premiums, cover and deductibles
Invented policy: ILS 60 monthly premium, a covered loss of 3,000 and a fixed deductible of 500. Assume a sufficient coverage limit and no other reductions. The insurer pays 2,500; the insured pays 500 of the loss. Premiums are a separate cost: 60 × 12 = 720 per year. If the covered loss were only 300 with a 500 deductible, no insurer payment arises under these assumptions. These are not real product prices or terms.
Compare two fictional policies with identical cover: A costs ILS 600 yearly with an 800 deductible; B costs 900 with a 300 deductible. Calculate cost with no claim and with one covered loss of 2,000. No single answer suits everyone.
For the example loss of 3,000 and deductible of 500, what does the insurer pay?
- ILS 3,000
- ILS 500
- ILS 2,500
Explain your choice in your own words. Which assumption could change the answer?
How insurance works: premiums, cover and deductiblesInsurance types: health, life, home, motor and travel
Three imaginary cases: damage to a home’s wall differs from theft of a computer inside; the first concerns buildings and the second contents, if the event is covered. Damage to another car’s bumper is property damage, so do not assume compulsory bodily-injury cover pays for it. Medical treatment abroad requires checking travel cover for the dates and circumstances. Identifying the branch is only a starting point: conditions, exclusions and documents still matter, and claim approval is not guaranteed.
Make a fictional table with event, damage, insurance type to investigate and one coverage question. Use these three examples without names, medical records or real policies.
What distinction matters in home insurance?
- Buildings and contents are different covers
- Buildings cover always includes every possession
- Home insurance replaces health insurance
Explain your choice in your own words. Which assumption could change the answer?
Insurance types: health, life, home, motor and travelReading a policy and understanding overlapping cover
Exercise: a covered medical expense of ILS 1,000 and two indemnity policies, each with sufficient limits and no deductible. Do not assume a payment of 2,000: reimbursement relates to the expense, and allocation between insurers must be checked. In a separate exercise, fixed-benefit cover promises 5,000 if a defined event meets its conditions. The key check is the event’s eligibility, not adding receipts until they reach 5,000. Neither example makes one policy universally better.
For two fictional insurance cards, record indemnity or fixed benefit, covered event, limit, deductible and an exclusion. Mark missing facts before deciding whether they overlap.
Two indemnity policies for the same expense of 1,000 guarantee…
- A payment of 2,000
- No automatic double reimbursement of the same expense
- A fixed monthly profit
Explain your choice in your own words. Which assumption could change the answer?
Reading a policy and understanding overlapping coverTeacher answer key
How insurance works: premiums, cover and deductibles
ILS 2,500
Under these exercise assumptions, subtract the deductible: 3,000 − 500.
Insurance types: health, life, home, motor and travel
Buildings and contents are different covers
The structure and possessions are different; check what cover was purchased.
Reading a policy and understanding overlapping cover
No automatic double reimbursement of the same expense
Indemnity depends on covered loss, limits and coordination under the law and policies.