- The dollar amount that the policyholder agrees to pay in the event of a loss. The insurance company pays the amount over the deductible, up to the limit of the policy.
(written as Deductible)An arrangement under which the insured person pays a fixed sum when health care is used and the insurer pays all other expenses, subject to a possible copayment. It is known as ' excess ' in the UK.
- adjective taken away from an amount of money