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. How it works: If your insurance plan’s deductible is Rs. 50, 000, you will pay 100% of the eligible expenses until the bills total Rs. 50, 000.

Detailed explanation-2: -Deductible is the amount that a policy holder has to pay before the insurance company starts paying up. In other words, the insurance company is liable to pay the claim amount only when it exceeds the deductible.

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. 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.

Detailed explanation-5: -A deductible is the amount of money that you are responsible for paying toward an insured loss. When a disaster strikes your home or you have a car accident, the deductible is subtracted, or “deducted, ” from what your insurance pays toward a claim.