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Deductible |
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DeductibleIn the US, the amount (normally fixed) which a policyholder is obliged to pay prior to an insurance company paying a claim.For instance, if a company insures its assets up to $100m with a deductible of $10 million, and it has a loss of $100 million, the company has to take care of $10 million, and the insurance company's liability is $90 million.Similar MatchesDeductible contributionDeductible contributionAmount paid into an IRA, an employer-sponsored retirement plan, or other type of retirement plan for a particular tax year that is a deduction from income for tax purposes. Nondeductible contributionNondeductible contributionA contribution to either a traditional IRA or Roth IRA. Income tax is due on the contribution in the tax year for which the contribution is made. Tax deductibleTax deductibleThe effect of creating a tax deduction, such as charitable contributions and mortgage interest. Voluntary deductible employee contribution planVoluntary deductible employee contribution planA type of pension plan in which an employee elects to have regular payments deducted from each pay check. |
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