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

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.

xplain the difference between a premium and a deductible.

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.

When we purchase essential insurance (e.g., healthinsurance), we are often offered a range of “deductibles,” the pre-specifiedamount that we must pay on a claim before the insurance company will pay thebalance. Assuming that the deductibles themselvesare for dollar amounts that we could afford without significant financial hardship, whichdeductible should we select?1 point Always select the policywith the highest deductible It depends on a number of factors; cannot sayfor sureAlways select the policy with the lowestdeductible