What does deductible mean?

Definitions for deductible
dɪˈdʌk tə bəlde·ductible

This dictionary definitions page includes all the possible meanings, example usage and translations of the word deductible.

Princeton's WordNet

  1. deductiblenoun

    (taxes) an amount that can be deducted (especially for the purposes of calculating income tax)

  2. deductibleadjective

    a clause in an insurance policy that relieves the insurer of responsibility to pay the initial loss up to a stated amount

  3. deductibleadjective

    acceptable as a deduction (especially as a tax deduction)

Wiktionary

  1. deductiblenoun

    a clause in an insurance policy that deducts a defined amount from the sum paid out by the insurer

  2. deductibleadjective

    That can be deducted

Wikipedia

  1. Deductible

    In an insurance policy, the deductible (in British English, the excess) is the amount paid out of pocket by the policy holder before an insurance provider will pay any expenses. In general usage, the term deductible may be used to describe one of several types of clauses that are used by insurance companies as a threshold for policy payments. Deductibles are typically used to deter the large number of claims that a consumer can be reasonably expected to bear the cost of. By restricting its coverage to events that are significant enough to incur large costs, the insurance firm expects to pay out slightly smaller amounts much less frequently, incurring much higher savings. As a result, insurance premiums are typically cheaper when they involve higher deductibles. For example, health insurance companies offer plans with high premiums and low deductibles, or plans with low premiums and high deductibles. One plan may have a premium of $1,087 a month with a $6,000 deductible, while a competitive plan may have a premium of $877 a month with a $12,700 deductible. The consumer with the $6,000 deductible will have to pay $6,000 in health care costs before the insurance plan pays anything. The consumer with the $12,700 deductible will have to pay $12,700.Deductibles are normally provided as clauses in an insurance policy that dictate how much of an insurance-covered expense is borne by the policyholder. They are normally quoted as a fixed quantity and are a part of most policies covering losses to the policy holder. The insurer then becomes liable for claimable expenses that exceed this amount (subject to the maximum sum claimable indicated in the contract). Depending on the policy, the deductible may apply per covered incident, or per year. For policies where incidents are not easy to delimit (health insurance, for example), the deductible is typically applied per year. Several deductibles can be set by the insurer based on the cause of the claim. For example, a single housing insurance policy may contain multiple deductible amounts for loss or damage arising from theft, fire, natural calamities, evacuation, etc. There are also deductible reimbursement programs that reimburse a deductible in the event of an automobile, home, boat/yacht or health insurance claim.

ChatGPT

  1. deductible

    A deductible is a specified amount of money an individual must pay out-of-pocket before an insurance company will cover a claim. It is essentially the amount you agree to pay towards repair or replacement in case of damage, loss, or any event covered under your insurance policy. The insurance coverage kicks in only after the deductible has been met.

Webster Dictionary

  1. Deductibleadjective

    capable of being deducted, taken away, or withdrawn

  2. Deductibleadjective

    deducible; consequential

Wikidata

  1. Deductible

    In an insurance policy, the deductible is the amount of expenses that must be paid out of pocket before an insurer will pay any expenses. In general usage, the term deductible may be used to describe one of several types of clauses that are used by insurance companies as a threshold for policy payments. Deductibles are typically used to deter the large number of trivial claims that a consumer can be reasonably expected to bear the cost of. By restricting its coverage to events that are significant enough to incur large costs, the insurance firm expects to pay out slightly smaller amounts much less frequently, incurring much higher savings. As a result, insurance premiums are typically cheaper when they involve higher deductibles. Deductibles are normally provided as clauses in an insurance policy that dictate how much of an insurance-covered expense is borne by the policyholder. They are normally quoted as a fixed quantity and is a part of most policies covering losses to the policy holder. The insurer then becomes liable for claimable expenses that exceed this amount. Depending on the policy, the deductible may apply per covered incident, or per year. For policies where incidences are not easy to delimit, the deductible is typically applied per year.

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Numerology

  1. Chaldean Numerology

    The numerical value of deductible in Chaldean Numerology is: 1

  2. Pythagorean Numerology

    The numerical value of deductible in Pythagorean Numerology is: 4

Examples of deductible in a Sentence

  1. Kimberly Jensen:

    After I see her, I am pretty high for a couple of days. I am seriously addicted to it, i think about if I have a ding in my car and I have a $500 deductible, that $500 could give me 500 minutes of cuddling.

  2. Noam Chomsky:

    Advertising is tax deductible, so we all pay for the privilege of being manipulated and controlled.

  3. Deborah Meyer:

    With the enhanced standard deduction and cap on deductible taxes, you are more likely to claim the standard deduction in 2018, families with large mortgages and or significant charitable contributions may still itemize, but it will be on a case-by-case basis.

  4. Alex Azar:

    I know how cost works in the system. What if I were a grandmother and I’m trusting the system will take care of me? What if I’m a 20-something and I have a high deductible plan? I was able to fight for that information. I knew to fight for that information ... they wouldn’t. I think it’s a right to know up front what we are going to pay for a procedure.

  5. Stephen Doucette:

    I always suggest clients consolidate it in the form of good debt, like a mortgage on your primary residence, you are borrowing against an appreciating asset, you don't have to worry about inflation increasing the payment, and the interest is deductible. As long as this debt is a small portion of your net worth, it is okay to play a little arbitrage, especially considering stock market risk, where a sudden decline could leave older investors very vulnerable.

Popularity rank by frequency of use

deductible#10000#12718#100000

Translations for deductible

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"deductible." Definitions.net. STANDS4 LLC, 2024. Web. 4 Mar. 2024. <https://www.definitions.net/definition/deductible>.

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