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In Chapter 9 of Ramsey's program, a deductible is defined as the initial amount you are responsible for paying before your insurance coverage applies. This section highlights the importance of understanding deductibles when making financial decisions regarding insurance. By familiarizing yourself with this term, you can better prepare for the Foundations in Personal Finance - Chapter 9 Test. Resources from platforms like US Legal Forms can further deepen your understanding of this essential aspect of personal finance.
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