A deductible requires a person with an insurance policy to:A.return money the insurance company pays to cover major damages.B.use his or her insurance policy a maximum of two times per year.C.pay a certain amount of money before insurance will cover expenses.D.purchase all different types of insurance from the same company.

The deductible on an insurance policy refers to:A.the number of different types of insurance a policy can provide.B.the total value of an insurance policy minus its cost to the consumer.C.the money a person pays before his or her insurance covers expenses.D.the monthly fee a person pays after using insurance for the first time.

What is an insurance deductible? Question 1 options: the money paid by the insured before the insurance company begins to pay the monthly price one pays for an insurance policy the amount that is regularly deducted (taken out of) from one's paycheck to pay for insurance a decrease in the amount of insurance coverage one has

In the event of an insurance claim, if you are willing to pay a $1,000 deductible instead of $500 deductible you will pay a higher premium each month for your insurance. True False

Why do people typically purchase insurance policies?A.They would not be able to pay for major expenses without insurance.B.They believe insurance policies will increase in value over time.C.They anticipate that they will never have to pay their deductibles.D.They calculate that their insurance premiums will be greater than their benefits.

If your health insurance policy has a $100 deductible, you will be responsible for paying this amount at which of the following times?Each time you seek medical careOnce every year when services of at least $100 are usedEvery month you exceed $100 in medical servicesOnly once in your lifetime