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WordNet-Online
Definitions from WordNet
Noun co-insurance has 1 sense
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Definitions from the WebCo-insuranceDescription:Co-insurance refers to a financial arrangement in which multiple parties share the cost of an insurance policy. It is commonly utilized to distribute the financial burden between insurance companies and policyholders, where both parties bear a certain percentage of the covered expenses. Senses:Noun:
Usages:Popular Usage:Co-insurance is often applied in health insurance policies, whereby the policyholder pays a certain percentage of the covered expenses after the deductible is met. Example Sentence:"Her health insurance policy includes a co-insurance requirement of 20%, meaning she must cover one-fifth of the medical bills." Related Products: Health Insurance on Amazon Local Usage:In some regions, co-insurance is also employed in property insurance policies, where the policyholder shares a portion of the claim cost with the insurer. Example Sentence:"In coastal areas prone to hurricanes, homeowners often encounter co-insurance clauses requiring them to pay a percentage of the home's insured value in case of damage." Related Products: Home Insurance on Amazon | |||||
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