MLchartDataset catalogue

Deductible

Term · Law · MLC-T-LAW-001512

The amount of a covered loss that the policyholder pays before the insurer's payment obligation begins, stated as a fixed sum or as a percentage of the insured value. A higher deductible lowers the premium because the insured retains more of each loss. Property, auto and health policies apply it per claim, per occurrence or per policy year.

Table 1. Record
IdentifierMLC-T-LAW-001512
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-001512",
  "term": "Deductible",
  "field": "Law",
  "definition": "The amount of a covered loss that the policyholder pays before the insurer's payment obligation begins, stated as a fixed sum or as a percentage of the insured value. A higher deductible lowers the premium because the insured retains more of each loss. Property, auto and health policies apply it per claim, per occurrence or per policy year.",
  "url": "https://mlchart.com/terminology/law/deductible/"
}

Record 1,377 of 5,441 in Law terminology (MLC-0107). Request the full dataset.