Sum Assured definition

Sum Assured means the amount specified in the Schedule

Sum Assured means the amount stated in the Schedule against each relevant Section, which shall be the Company’s maximum liability under this Policy (regardless of the number of the amount of Claims made) for any one Claim and in the aggregate for all Claims under such Section.

Sum Assured means an absolute amount of benefit which is guaranteed to become payable on death of the Life Assured in accordance with the terms and conditions specified in the Policy.

Examples of Sum Assured in a sentence

• Details of the Current Sum Assured Factor are as below: Note: Current Sum Assured = Current Sum Assured Factor x Intial Sum Assured3.* Current Sum Assured Factor will be reduced by 5% annually from the beginning of policy year at age 66 (next birthday).1 Death Benefit will be terminated on the policy anniversary immediately preceding the 85th birthday of Life Assured.

• The GoldenRetirement plan focuses not just on securing your income after retirement, but also safeguarding peace of mind against the financial impact of unforeseen circumstances such as death or Total and Permanent Disability.100% of Current Sum Assured (CSA) will be payable upon death or TPD of Life Assured.

• Survival BenefitIn case of survival of the life assured up to the end of each of the last four years of the policy, provided all the due premiums have been paid, 25% of Sum Assured at the end of each of the last four years will be paid.Maturity BenefitAccrued Reversionary Bonuses and Terminal Bonus (if any) will be paid at Maturity.Additional Protection Through RidersYou can opt any of the following Riders by paying additional premium.

• This rider also gives you an upside of increments in your rider Sum Assured through Loyalty Additions.Please refer the Rider Brochure for further details.High Sum Assured RebatesFor high sum assured policies, the premium rebates are given as below.

• If you are diagnosed to be suffering from any of the 24 specified Critical Illnesses, we will pay 100% of the rider Sum Assured on survival of 30 days following the date of first confirmed diagnosis.

More Definitions of Sum Assured

Sum Assured means the amount payable under this Policy per Scheme Member upon death during Insurable Membership subject to terms, conditions and provisions of this Policy.

Sum Assured means the amount stated in the Schedule, which is the maximum amount (regardless of the number of amount of claims made or the number of the Insureds who make a claim) for any one claim and in the aggregate for all claims for which the Company will make payment in relation to the Cover to which the Sum Assured relates during the Policy Period.

Sum Assured means an amount as specified in the Schedule, which is payable on the death of the Life Insured;

Sum Assured means an absolute amount of benefit which is guaranteed to become payable on death of the member.

Sum Assured means the amount specified in the Policy Schedule / Member annexure

Sum Assured means the amount specified in the Schedule that is payable on the Life Insured's death in accordance with the terms of the Policy;

Sum Assured means the amount as specified in the Register of Members or the Certificate of Insurance, as the case may be, which is payable on the death of a Member during the Period of Coverage;