Question

In addition to paying $100 per month for health insurance jannie is responsible for paying her first $500 of medical bills every year before her insurance covers any costs. The $500 Jannie must pay is called the

Answer 1

Answer:

- Deductible

Explanation:

In the context of insurance, 'Deductible' is described as 'an amount of expenses that must be paid out of the pocket before an insurer will pay further expenses.' It is a term that is put before the insurer to mark the doorway of making the payments of the policy taken by him/her.

Therefore, the payment made by Jannie of $500 every year would be called 'deductible.' It will assist her in maintaining the premium amounts limited and will also prevent her from any kind of risk of excessive financial burden led by a sudden crippling loss.