Business and Personal Finance Dictionary

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• DEDUCTIBLE AMOUNT
  
  The amount of money a policyholder must pay before an insurance company steps in and pays the rest. Deductible amounts range from $100 to $1,000. The higher your deductible the lower your insurance premium or cost. A higher deductible also means you’ll have to pay more money out of your own pocket if an accident or illness should occur.
  
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