exclusionex·clu·sion /ɪkˈskluːʒən/ noun [countableC]1INSURANCE a particular event or risk that is mentioned in an insurance policy as something that the policy does not coverSYN EXCEPTIONCommon exclusions in medical insurance policies are pregnancy, cosmetic surgery and treatment of AIDS.
2TAX an amount that would normally form part of a person’s or company’s total income, but on which tax does not have to be paidCustoms are reviewing the current range of exclusions.