Most insurance policies require a monetary contribution from the covered individual which is called:

Question

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All three terms refer to different types of monetary contributions that an insured individual may be required to pay as part of their insurance policy. A copayment is a fixed amount paid for a covered service, a deductible is an amount the insured must pay before insurance begins to cover costs, and coinsurance is a percentage of the cost of a covered healthcare service that the insured pays after the deductible has been met.

Most Insurance Policies Require a Monetary Contribution from the Covered