Question

What is the purpose of a deductible in an insurance policy?

A To reduce the amount of coverage provided by the policy Correct Answer Incorrect Answer
B To increase the premium paid by the policyholder Correct Answer Incorrect Answer
C To reduce the amount paid by the insurance company in the event of a claim Correct Answer Incorrect Answer
D To make the claims process more complicated for the policyholder Correct Answer Incorrect Answer
E None of the above Correct Answer Incorrect Answer

Solution

The correct answer is C

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