the maximum amount an insurance company will pay out on a particular policy.
The minimum amount payable by a life insurance policy on the maturity of a policy. Wedding Tips Comfort-Able Drive-in Food For Thought Any Time Money It's Your Future. Plan It Professional Prosperity Home Ownership Glossary What's New?? Survey Quiz
The amount of cover taken under a life insurance policy, it is the minimum amount that will be paid on death of the policyholder during the policy term.
The basic amount payable as per the contract of insurance.
This is normally the amount paid out on a policy if you die within the term. It is also the guaranteed amount to be paid out at maturity on a low cost or full with profits endowment policy
An amount guaranteed to be paid out when the policy matures or on earlier (death) claim, providing that premiums have been paid in full.
The maximum amount payable under a policy of insurance. In the case of a life insurance policy set alongside a mortgage, the sum assured is usually equal to the loan amount.
The maximum amount payable in the event of a claim on an insurance policy. In the case of life or critical illness insurance, it would be the maximum sum paid out upon death or diagnosis (as applicable). The sum assured under a general insurance policy must adequately represent the value of the goods at risk.
How much the life assurance or investment company guarantees to pay you, if you have an endowment policy and you die. This figure may be less than the mortgage amount unless the policy is specifically designed to match the mortgage amount.
The maximum amount payable under a policy of insurance. In the case of a life assurance policy this is the amount payable upon death. Under a general insurance policy it is the maximum amount that can be paid out in the event of a claim. The sum assured under a general policy must be adequate to represent the full value of goods at risk. If an insurer feels that a policyholder has not declared the full value of goods at risk and a claim occurs, the insurer may reduce the claim by applying average.
The amount payable on death or maturity whichever is earlier, provided that all premiums have been paid.
the benefit payable under a life assurance policy.
The amount paid should a claim arise.
The guaranteed amount paid on death or maturity under a life assurance policy.
The amount that the assurer agrees to pay on the occurrence of an event.
The guaranteed amount paid on death under a life assurance policy. Depending on the policy held, this guaranteed sum might be increased through the addition of bonuses.