MORE DEDUCTIBLE Meaning and
Definition
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More Deductible refers to a higher amount that an individual or business must pay out of pocket before their insurance coverage begins to pay for covered expenses. In insurance terms, a deductible is the fixed amount that policyholders must contribute towards a covered claim or loss before their insurance company is liable to cover the remaining costs. When the term "more deductible" is used, it indicates an increase in the amount that needs to be paid by the policyholder before insurance coverage kicks in.
A more deductible can have different implications based on the specific insurance policy in question. For instance, in health insurance, a more deductible may lead to lower premium costs, as individuals or employers agree to pay a higher deductible in exchange for reduced monthly premium payments. On the other hand, in property or auto insurance policies, a higher deductible could affect the policyholder's ability to afford repairs or replacements in case of a loss. Therefore, it is crucial for individuals to carefully assess and balance the potential cost savings against their financial capability to pay a higher deductible before opting for a policy with a more deductible.
In summary, a more deductible signifies an increased amount that policyholders must pay upfront before their insurance coverage begins. It is essential for individuals to consider their financial circumstances and risk tolerance while making decisions regarding the deductible levels in their insurance policies.
Common Misspellings for MORE DEDUCTIBLE
- nore deductible
- kore deductible
- jore deductible
- mire deductible
- mkre deductible
- mlre deductible
- mpre deductible
- m0re deductible
- m9re deductible
- moee deductible
- mode deductible
- mofe deductible
- mote deductible
- mo5e deductible
- mo4e deductible
- morw deductible
- mors deductible
- mord deductible
- morr deductible
- mor4 deductible
Etymology of MORE DEDUCTIBLE
The word "deductible" originated from the Latin term "deductibilis", which means "able to be deducted". The word "more" in "more deductible" is not etymologically linked specifically to "deductible". Instead, "more" is an English word that means "additional" or "greater in amount or degree". In the context of insurance or taxes, "more deductible" typically refers to a higher amount that a policyholder or taxpayer must pay before their insurance coverage or tax benefits start to apply.
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