A(n) ________ is an amount of any loss that is to be paid by the insured and can be a specified dollar amount,a percentage of the claim amount,or a specified amount of time that must elapse before benefits are paid.

A) loan value
B) deductible
C) annuity
D) cash surrender value

Deductible

An amount that a policyholder must pay out of pocket before an insurance provider will cover any expenses.

Insured

An individual or entity covered by an insurance policy, receiving financial protection or reimbursement against losses from an insurer.

Loss

The state or condition of not having something anymore, often referring to the disadvantage suffered following a particular event or action.