A formal request from the customer to an insurance nce company asking for a payment based on the terms of the insurance policy Deductible Claim Comprehensive Coverage Copay

## Step 1<br />The problem is asking us to identify the term that best describes a formal request from a customer to an insurance company asking for a payment based on the terms of the insurance policy. The options provided are: Deductible, Claim, Comprehensive, Coverage, and Copay.<br /><br />## Step 2<br />Let's define each term:<br />- A Deductible is the amount of expenses that must be paid out of pocket before an insurer will pay any expenses.<br />- A Claim is a formal request to an insurance company asking for a payment based on the terms of the insurance policy.<br />- Comprehensive refers to a type of insurance coverage that provides protection against a wide range of risks.<br />- Coverage refers to the amount of risk or liability that is covered for an individual or entity by way of insurance services.<br />- A Copay is a fixed amount a patient pays for a covered health care service.<br /><br />## Step 3<br />From the definitions, it is clear that the term that best fits the description given in the problem is 'Claim'. This is because a claim is a formal request to an insurance company asking for a payment based on the terms of the insurance policy.