deductible

Definitions

Construction

  • 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.

Health Economics

  • (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.

Politics

  • adjective taken away from an amount of money
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