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Deductible for Dummies

adjective

pronunciation: dɪ'dəktəbəl

What does Deductible really mean?

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Alright, so a "deductible" is a word that you might have heard before, especially when talking about things like insurance. It's basically like a little chunk of money that you have to pay before your insurance starts to cover the rest. Let me break it down for you. Imagine you have a big box of candy. Before you can start giving out the candy to your friends, you have to give up a small piece for yourself. That little piece you give up is like the deductible - it's your part of the deal before the rest of the candy (or in this case, the insurance) kicks in.

So, when it comes to things like health insurance or car insurance, you might have to pay a certain amount of money out of your own pocket before the insurance company starts to help out with the rest of the costs. For example, if you have a $500 deductible on your car insurance and you get into an accident that causes $3,000 worth of damage, you would have to pay the first $500, and then the insurance would cover the remaining $2,500. It's kind of like a little upfront fee that you have to take care of before the insurance company pitches in.

And that's pretty much what a deductible is - it's the amount of money that you have to pay before your insurance starts to cover the rest. It's like the ticket you have to buy before you can hop on the insurance train to help handle any other costs. So, next time you hear someone talking about a deductible, you'll know that it's just a little bit of money that has to come out of your own pocket before the insurance really starts to come into play. Cool, right?

Revised and Fact checked by John Doe on 2023-11-27 16:31:01

Deductible In a sentece

Learn how to use Deductible inside a sentece

  • When you go to the doctor, you may have to pay a certain amount of money before your insurance starts to pay for your medical bills. This amount of money is called a deductible.
  • If you have car insurance and you get into an accident, you may need to pay a certain amount of money before your insurance company helps pay for the repairs. This amount of money is your deductible.
  • Let's say you have a phone insurance plan and your phone gets damaged. Before the insurance company starts to cover the cost of repairs, you need to pay a certain amount of money called a deductible.
  • If you have a homeowner's insurance policy and your house gets damaged in a storm, you may need to pay a certain amount of money before your insurance company helps pay for repairs. This amount is your deductible.
  • Suppose you have health insurance and you need to have surgery. Before your insurance company helps pay for the cost of the surgery, you may need to pay a certain amount of money first. This amount is called a deductible.

Deductible Antonyms

Words that have the opposite context of the original word.

nondeductible nondeductible

Deductible Hypernyms

Words that are more generic than the original word.

amount amount amount of money amount of money article article clause clause sum sum sum of money sum of money

Deductible Similar Words

Words that similar to the original word, but are not synonyms.

allowable allowable

Deductible Category

The domain category to which the original word belongs.

revenue enhancement revenue enhancement revenue enhancement revenue enhancement tax tax tax tax taxation taxation taxation taxation