In house insurance it is the amount for which property is insured, and the maximum amount which the insurance company will pay for any claim. back
( capital assuré) Amount for which insurance is effected and on which the premium is based.
This is the sum of money that is guaranteed to be paid to the policy holder's beneficiary's once the claim on the life insurance policy has been made.
The amount is shown in the schedule of your policy. If your policy covers contents the sum insured must be sufficient to replace, as new, all the contents of your home. If your policy covers the buildings of your home then the sum insured must be sufficient to rebuild in the event of total destruction.
the amount for which property is insured and, consequently, the highest amount that an insurance company will pay out in the event of a claim.
Maximum amount a company will pay on a claim.
The amount covered by an insurance policy.
The amount for which each section is insured. This will be shown in your policy schedule when you take out a policy.
The maximum amount payable to the policyholder under the terms of the policy.
Signifies the total amount which the property or item is insured for. The sum insured is the highest amount that an insurer will pay out in the event of a claim.
The sum expressed in a policy as the amount payable on the occurrence of the event insured against in the case of a benefit policy, or as the maximum of the insurer's liability under a contract of indemnity.
The amount for which property is insured, and the maximum amount that the insurance company will pay for any claim. In life insurance, the amount that is guaranteed to be paid and to which bonuses may be added.
The amount of money that is guaranteed to be paid under an insurance policy, before any bonuses are added.
is the amount that will be considered for payment under a Term Life, Stand Alone Total and Permanent Disablement, Recovery or Stand Alone Recovery claim.
The sum insured should be the full rebuilding cost of the property, not its market value.
This should be the full rebuilding cost of the property, not what its market value is considered to be.
The amount for which insurance is effected and the one on which the premium is based. Often in life insurance, the term is "sum assured."
The declared value of an insured object eg a building. Premiums are often expressed as a percentage or rate PER MILLE of the sum insured.
The monetary limit of the insurer's liability under a policy
For non-life insurance it is the maximum amount the insurance company will pay out for a claim. For life assurance it is the amount that is guaranteed to be paid on death to which, if a with-profits contract, bonuses may be added.
