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.
A life insurance policy can supplement your retirement financial strategy by being a source of emergency cash or loan funds, or by simply providing the confidence that comes from knowing you've covered all the bases.
It's never too early to start thinking about life insurance. Waiting until you're older or in poor health is never a good idea.
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