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: -What are deductibles? 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: -Deductible in health insurance is the amount that the insured is required to pay before the insurance company starts offering the coverage benefits in case of a claim. This means that the insurance company is required to pay the claim amount only if it exceeds the deductible amount.

Detailed explanation-4: -A deductible is the amount of money that you are responsible for paying toward an insured 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.