Sophie Bennett must pay $500 for doctor's visits each year before her insurance company will make any payments for doctor's visits.What is this requirement called?

Question

Quizplus · Accepted Answer

A deductible is the amount a policyholder must pay out-of-pocket before the insurance company starts covering the costs. In this case, Sophie Bennett must pay $500 for doctor's visits each year before her insurance begins to pay, which is a typical example of a deductible.

Sophie Bennett Must Pay $500 for Doctor's Visits Each Year