Insurance

What is a Deductible?

Deductible

[dih-duhk-tuh-buh l]

noun

1.

A Deductible is the amount of money a policyholder must pay out of pocket before any insurance payments are made. For example, if repairs to a personal vehicle cost $1,000, but the Deductible on that Policy is $500, the policyholder must pay $500 toward the repairs before the insurance company covers the other $500.

Share |

Have A Question About This Topic?

Thank you! Oops!

Related Content

Prescription Drug Benefits Under Medicare (Part D)

Prescription Drug Benefits Under Medicare (Part D)

Do you need to enroll in Medicare Part D? Read this article to learn more about whether you need this coverage

Medicare Advantage Plans (Medicare Part C)

Medicare Advantage Plans (Medicare Part C)

Medicare Part C allows you to choose a Medicare Advantage plan. This article will help you decide if it's right for you.

Countdown to College

Countdown to College

Preparing for college means setting goals, staying focused, and tackling a few key milestones along the way.