Memory InsuranceVersion en ligne A match is the definition and the correct word. par Laura Long Deductible Premium The amount you must pay out of your own pocket before your insurance company will start paying for services. Coverage Policy The different options of coverage that insurance companies may offer. The maximum amount of money your insurance will pay (sometimes in the year and sometimes in a lifetime). A contract/agreement with an insurance company. The amount of money paid for the chosen insurance policy. What your insurance policy will pay for based on the plan you chose. Limit Plans