MANAGEMENT

Detailed explanation-1: -The deductible is a specific amount that the policyholder must pay out of pocket before the insurer pays a claim. Deductibles serve as deterrents to large volumes of small and insignificant claims. Deductibles can apply per policy or per claim, depending on the insurer and the type of policy.

Detailed explanation-2: -The amount you pay for covered health care services before your insurance plan starts to pay. With a $2, 000 deductible, for example, you pay the first $2, 000 of covered services yourself. After you pay your deductible, you usually pay only a. copayment.

Detailed explanation-3: -Which of the following is the best definition of the term “annual health insurance deductible?” The amount that is deducted from your paycheck each year to pay for your policy.

Detailed explanation-4: -Insurance policies use deductibles to ensure a measure of financial stability on the part of the insurer by reducing the severity of claims. A policy that is properly structured provides protection against catastrophic loss. A deductible provides a cushion between any given minimal loss and a truly catastrophic loss.

Detailed explanation-5: -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.