What does Deductible Plan mean? Read on to discover the definition & meaning of the term Deductible Plan - to help you better understand the language used in insurance policies.
A liability or workers compensation insurance rating plan under which an insured retains each loss up to the deductible amount and for which the insurer remains responsible for claim payment if the insured defaults. The insurer is also responsible for claims handling services. Also known as a filed deductible policy.
We hope the you have a better understanding of the meaning of Deductible Plan.