Which of the following best defines a deductible? (p. 375) a. A nominal amount that the insured is required to pay when making a claim

An out-of-pocket payment that an insured must make that is deducted from the insurance payment c. A nominal amount that the insurer is required to pay when the insured makes a claim d. An out-of-pocket payment that the insurer must make that is added to the insurance payment