Definition: Insurance Without Deductible An insurance policy that does not have a deductible or an out-of-pocket maximum amount for claims, as specified by law or contract. The Insurance Without Deductible (IWD) policy ensures that a person has access to financial support from their insurance company in case of unexpected medical expenses. The policy provides coverage against the cost of surgery, hospitalization, rehabilitation, and other non-covered costs associated with medical procedures. The deductible is the amount that must be paid before the insurance company pays any money, while the out-of-pocket maximum refers to the amount the person will pay out-of-pocket after deducting the deductible. The word 'insurance without deductible' can also refer to an insurance policy where there are no deductibles or out-of-pocket limits for medical expenses. In this case, the coverage provided is generally more comprehensive than a standard medical insurance policy with a deductible. The IWD policy may provide coverage for emergency medical services, surgery, hospitalization, rehabilitation, and other non-covered costs associated with medical procedures. In summary, 'insurance without deductible' refers to an insurance policy where there are no deductibles or out-of-pocket limits for medical expenses, allowing the insured to receive financial support from their insurance company in case of unexpected medical expenses.

insurance without deductible