noun
1.
A Deductible is the amount of money a policyholder must pay out of pocket before any insurance payments are made. For example, if repairs to a personal vehicle cost $1,000, but the Deductible on that Policy is $500, the policyholder must pay $500 toward the repairs before the insurance company covers the other $500.
If you just recently married, then it may be time to take another look at your insurance policies to see where you can save money.
There are many considerations when purchasing family life insurance. Make sure your family understands these life insurance mistakes and how to avoid them.
Estimate how many months it may take to recover the out-of-pocket costs when buying a more efficient vehicle.