What is the term for a deductible provision that waives the deductible for all family members after some have satisfied individual deductibles?

The term for a deductible provision that waives the deductible for all family members after some have satisfied individual deductibles is known as a family maximum deductible. In this arrangement, once the total amount of deductibles for one or more members of a family meets a specified limit, the remaining family members are no longer required to meet their individual deductibles for that policy year. This provision is beneficial for families as it encourages coverage without placing a heavy financial burden on each individual member.

In contrast, the aggregate deductible refers to a total amount that must be met collectively among family members before the insurance provides coverage, but it does not function in the same way as a family maximum deductible. The common accident deductible specifically applies when multiple family members incur costs from a single incident or accident, allowing for a more streamlined claims process but does not encompass the concept of waiving individual deductibles altogether. The individual deductible simply refers to the specific amount each individual must pay before insurance coverage kicks in, without the family-wide context.