Unit 5 Briefing on
Taxation and Insurance
Policies
L/O/G/O
Teaching aims
Introduce a number of important economic
concepts in our modern society.
Vocabulary and numbers remain the two major
training focuses for Units 4 and 5.
Part I Getting Ready
Vocabulary
1. grand
2. bonus
3. premium
4. briefing
5. levy
6. opt
7. building society
8. allowance
9. reverse
Part I Getting Ready
Spending money without a plan is like driving
blindfolded.
What if expenses are greater than your income?
A budget is a tool to help you function better.
Listen to the dialogues and complete the exercises.
Part II Briefing on personal
taxation
Outline
I. Structure of personal taxation
A. rates
B. allowances
II. Collection of personal tax
A. income tax — PAYE
B. National Insurance
Part III Should I buy an
insurance policy? (I)
According to the insurance salesman, what are the
two ways to decide how much one should pay to
buy an insurance policy?
If one is interested in saving for two or three years,
should he buy a life insurance? Why?
Listen to the dialogue and complete the paragraph.
Part IV Should I buy an insurance
policy? (II)
Life insurance is an essential part of financial
planning.
The cash provided by life insurance can help your
dependents to reduce or avoid possible debt.
An important feature of life insurance is that there is
no federal income tax on the money paid to
beneficiaries.
Listen to the dialogue and answer the question.
Part V Do you know...?
1. The currency used in Iceland is krona.
2. In Iceland eating out is expensive and drinks cost
about one and half times as much as they do in the UK.
3. Staying in hotels is cheap in Iceland.
4. The fish is especially good in Iceland.
5. Compared with UK, Iceland is a more expensive
country to live in.
Listen to the conversation. Decide whether the
statements are true or false. Put “T” or “F” in the
brackets.
Homework
Review the whole unit.
Preview the next unit.
Listen to three pieces of News and do some TEM 4
Exercise
Thank You!