Before an insurance company pays for a policyholder's expenses, the policyholder must first contribute a certain amount of money toward those expenses. This is called a deductible.
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.
A deductible is a fixed dollar amount during the benefit period usually, a year that an insured person pays before the insurer starts to make payments for covered medical services. Plans may have both per individual and family deductibles.
Learn more about deductibles here https://brainly.com/question/5306277
#SPJ2
