It is the initial amount not covered by an insurance policy and thus the insured's responsibility; it's usually determined on a calendar-year basis or on a per-illness or eraccident basis. We may call it as:

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Deductible is the initial amount not covered by an insurance policy and thus the insured's responsibility. Participation clause refers to a type of policy where the insured pays a fixed amount, while co-insurance refers to the percentage of costs shared between the insurer and the insured. Internal limits are a cap on the amount of coverage provided by the policy.

It Is the Initial Amount Not Covered by an Insurance