deductible

²deductible

noun

Definition of DEDUCTIBLE

: a clause in an insurance policy that relieves the insurer of responsibility for an initial specified loss of the kind insured against; also : the amount of the loss specified in such a clause

Examples of DEDUCTIBLE

1. I have an insurance policy with a $1,000 deductible.

First Known Use of DEDUCTIBLE

1929

Other Economics Terms

actuary, compound interest, globalization, indemnity, portfolio, rentier, stagflation, usurer