deductible: Meaning and Definition of

de•duct•i•ble

1. capable of being deducted.
2. allowable as a tax deduction: Charitable contributions are deductible expenses.

1. the amount for which the insured is liable on each loss, injury, etc., before an insurance company will make payment: The deductible on our medical coverage has been raised from $50 to $100 per illness.