Common use of Annual Aggregate Deductible Clause in Contracts

Annual Aggregate Deductible. The Insured Person shall bear on his/her own account an amount equal to the Deductible specified in the Schedule of Insurance Certificate for any and all admissible claim amounts We assess to be payable by Us in respect of all claims made by that Insured Person under the Policy for a Policy Year. It is agreed that Our liability to make payment under the Policy in respect of any claim made in that Policy Year will only commence once the Deductible has been exhausted. It is further agreed that:

Annual Aggregate Deductible. The Insured Person shall bear on his/her own account an amount equal to the Deductible specified in the Policy Schedule of Insurance Certificate for any and all admissible claim amounts We assess to be payable by Us in respect of all claims made by that Insured Person under the Policy for a Policy Year. It is agreed that Our liability to make payment under the Policy in respect of any claim made in that Policy Year will only commence once the Deductible has been exhausted. It is further agreed that: