Sum assured is the amount you are insured for. In case of insurance for inanimate objects, the sum assured is what you will get and reduces as goods age or their depreciated value changes. In case of life insurance, there is a portion of fund value or bonus payouts depending on the type of policy you own which is paid out in addition to the sun assured. Insurance cover and sum assured is the same thing.
Sum Assured
by MoneyPuzzle Admin · April 17, 2019
Related Articles
How to reach financial freedom
April 22, 2024
Money & Emotions (April 2024)
April 6, 2024
What’s your money goal?
February 11, 2024