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Deductible Health Insurance
A deductible is the portion of a claim that you would pay. For example, let's say your deductible is $500. If you made a claim and the damages were assessed at $2, 000, you would have to pay $500 towards the repairs and your insurance company would take care of the balance. The amount of your deductible affects the price of your insurance policy. The higher your deductible, the less the cost of your insurance premium.
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By choosing a deductible here, you are choosing to include specified perils into your insurance coverage. The amount of your deductible affects the price of your insurance policy. The higher your deductible, the less the cost of your insurance premium.
More about Deductible Health Insurance
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When you make a claim, a small portion of the claim is always paid by you first, then your insurance company pays the rest. The portion you pay is called your deductible. The amount of your deductible affects the price of your insurance policy. The higher your deductible, the less the cost of your insurance premium.
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