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  • News From Press Sum assured and sum insured

    Sum assured and sum insured

    Source: Hindu Business Line Aug 15, 2016

    Although very close in meaning, the two are vastly  in an insurance policy. The sum assured to a policyholder is the benefit that is pre-defined and to bedifferent paid to the policyholder in the event of a claim.

    Relevant to life insurance policies, the sum assured is decided while purchasing the insurance policy. The policy terminates once the assured sum has been paid.

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