Memory Game InsuranceOnline version A match is the definition and the correct word. by Laura Long Coverage The amount you must pay out of your own pocket before your insurance company will start paying for services. The amount of money paid for the chosen insurance policy. The different options of coverage that insurance companies may offer. Deductible Policy Limit Premium 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. What your insurance policy will pay for based on the plan you chose. Plans