MANAGEMENT

Detailed explanation-1: -The word ‘Deductible’ is closely associated with insurance and it is the amount of money that you must pay before the insurer begins to cover the rest of the claim amount.

Detailed explanation-2: -Your expenses for medical care that aren’t reimbursed by insurance. Out-of-pocket costs include deductibles, coinsurance, and copayments for covered services plus all costs for services that aren’t covered.

Detailed explanation-3: -Simply put, a deductible in health insurance is the amount you must pay out of pocket for medical care before the insurance company begins to cover the costs.

Detailed explanation-4: -deductible clause in American English noun. a clause in an insurance policy stipulating that the insured will be liable for a specified initial amount of each loss, injury, etc., and that the insurance company will be liable for any additional costs up to the insured amount. Compare franchise clause.

Detailed explanation-5: -An aggregate deductible is the limit deductible a policyholder would be required to pay on claims during a given period of time. Aggregate deductibles are most likely to be features of product liability policies or policies that might result in a large number of claims during a certain time period.