Life Insurance Term
Sum Assured
The guaranteed amount a life insurer pays your nominee on death.
What is Sum Assured?
In life insurance, the sum assured is the fixed, guaranteed amount the insurer pays your nominee if you pass away during the policy term. Unlike a health sum insured, it isn't linked to actual expenses — it's a defined benefit.
It's the core number in a term plan: the payout that keeps your family financially secure.
Example
A ₹1 crore term plan pays your nominee ₹1 crore, tax-free, on your death during the term.
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