What does the sum insured mean? Introduce the meaning and function of the sum insured in detail

The sum insured refers to the sum insured and is the maximum amount that the insurance company can pay for reasonable expenses. When encountering a variety of insurance products, how to choose the right amount of insurance is a problem for many friends, you may wish to take a look at this article, it should be able to help you:How much insurance is appropriate?

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Choose the sum insured, not too high or too low, within a reasonable range.

1.The sum insured is too high:If the insurance rating is high, the premium will be correspondingly high, and the expensive premium will increase the financial burden on the family, which is too meaningless.

2.The sum insured is too low:Inability to resist the harm of risk. Generally speaking, it costs about 300,000 yuan to have a serious illness, and if you only buy a critical illness insurance with an insurance amount of 100,000 yuan, it will not help at all.

Many people ask about the choice of coverage for critical illness and accident insurance。So how do you determine an appropriate amount of insurance for these two types of insurance? Let me briefly analyze it:

1.Critical Illness Insurance:The average cost of serious illness is 300,000 yuanTherefore, the insured amount of critical illness insurance must be at least 300,000 yuanIf you live in a big city, the cost of living will be higher, and the insurance amount should also be increased to 500,000 yuan.

If it is the main pillar of the family economy, it should correspondingly increase the loss of income for 3-5 years to reduce the pressure on the family's economic life during the ** period.

Here's a look at the cost-effective critical illness insurance that I've spent a lot of time picking outTop 10 [Cost-effective] Popular Critical Illness Insurance Points! 》

2.Accident Insurance:If the safety factor of the working environment is high, it is recommended that the insurance amount is 300,000; If it is an outdoor job or a frequent business trip, the risk factor of the working environment is relatively large, and the recommended amount is set at more than 500,000 yuanAccident insurance with public transport is preferred

Learn the key knowledge of the sum insured to better buy insurance, and these knowledge points must be mastered before buying insurance, click on the blue word to view:"Before buying insurance, you must first figure out these key knowledge points! 》Hope!

A proper noun related to insurance is the sum insured, and if you want to understand insurance and buy insurance, you must know the meaning of this basic word. Today, we will introduce you to the following sum assured meaning. The full name of the sum insured is the insured amount, which refers to the maximum amount that can be provided when the insurer compensates or pays the insurance money, and at the same time, it is the maximum amount of compensation paid by the insurance company.

So, how is the sum insured determined? The method of determining the sum insured varies depending on the type of insurance. For property insurance, the sum insured is determined based on the insured value, and the effective sum insured is kept within a limit lower than the insured value.

For liability insurance and credit guarantee insurance, the maximum compensation limit is agreed upon by the insurance parties at the time of signing the insurance contract according to the specific circumstances of the bidding. For life insurance, it is unscientific to determine the amount of insurance by the value of human life, and human life cannot be measured in money, therefore, the determination of the insured amount in life insurance is mainly based on the economic security of the insured and the ability to pay premiums, and the specific amount is agreed upon when the two parties sign the agreement. So, what are the forms of the sum insured?

The first form is the actual value of the subject matter of insurance, and the insured amount is equal to the insured value, which is often expressed in this form in property insurance. The second form is the actual value of the goods plus the reasonable profit from their sales, which often appears in the type of cargo transportation insurance, which is that the insured amount is greater than the insured value. The third form is that the sum insured is lower than the actual value of the subject, and the difference is considered to be the self-insured part of the insured, and the sum insured is lower than the insured value.

Fourth, in compulsory insurance, partial liability insurance, and life insurance, a unified standard is used to determine the amount of insurance, which cannot be chosen by the policyholder. The fifth is to calculate the amount of insurance according to the actual loss, such as agricultural insurance, the amount of insurance is not determined in advance. The sixth is the amount of insurance determined according to the protection needs of the policyholder and the policyholder's ability to pay, which is mostly used in life insurance.

The amount of insurance includes enterprise property insurance, cargo transportation insurance, life insurance, etc., and there are different calculation formulas for determining the amount insured in different types of insurance. The above is the content of the introduction for you, I hope it can be helpful to you.

The amount of insurance coverage is further divided into: basic sum insured and effective sum assured.

1. The basic amount of insurance (that is, at least the amount of protection that you can have, just like the limit of a credit card, may only give you 2,000 yuan at the beginning, and then it can be increased to 10,000 yuan if you have good credit.) If the contract stipulates that the initial amount of insurance you purchase is 100,000, then 100,000 is your basic insurance amount).

2. Effective sum insured (it includes the basic sum insured and the dividend sum assured, and the sum insured of some products is fixed; Some of the sum insured can be increased every year, if you choose the initial sum insured is 100,000, then after a few years, your contract effective sum insured may reach 150,000, then 150,000 is the effective sum insured, 100,000 is the basic sum insured).

The amount insured in the insurance can only be the amount insured, and the amount insured in critical illness insurance and accident insurance is the standard for claims.

Hello Answer! The insured amount is the insured amount, which is the maximum amount of the insurer's liability to pay insurance money when the insured event occurs in the insurance contract signed between the insurer and the insured. The sum insured is also an important consideration when choosing insurance, but the insurance rating should be reasonable, too high or too low is not good, too high means that the premium will be too much, too low to resist the risk.

The insured amount refers to the maximum amount of the insurance company's liability to compensate or pay insurance money under an insurance contract, that is, the actual amount insured by the policyholder for the subject matter of the insurance; At the same time, it is also the basis for the calculation of insurance premiums charged by insurance companies. In a property insurance contract, the valuation and determination of the insured value directly affect the size of the insured amount. The insured value is equal to the insured amount and is fully insured; If the insured amount is lower than the insured value, the insurance company shall compensate the insured amount in proportion to the insured value, unless otherwise agreed in the contract, when part of the insured object is lost; The insured amount in excess of the insured value is overinsured, the insured amount in excess of the insured value is invalid, and the malicious excess insurance is fraudulent and may invalidate the insurance contract.

Extended information] The insured amount is referred to as the insured amount, which refers to the maximum amount of insurance money paid by the insurance company to the policyholder in the event of a risk, and is also the main calculation basis for the insurance company to collect insurance premiums. Article 6 of the Insurance Law stipulates that insurance business shall be operated by insurance companies established in accordance with this Law and other insurance organizations prescribed by laws and administrative regulations, and other units and individuals shall not engage in insurance business.

The methods and principles for determining the insured amount are different: in the property insurance contract, the valuation and determination of the insured value directly affect the size of the insured amount. The insured value is fully insured.

If the insured amount is lower than the insured value, the insurance company will compensate the insurance company in proportion to the insured amount. The insured amount in excess of the insured value is overinsured, the insured amount in excess of the insured value is invalid, and the malicious excess insurance is fraudulent and may invalidate the insurance contract. In a life insurance contract, the life law measures that the insured amount is the maximum amount of payment or the actual amount paid by the insurer as agreed by both parties to the life insurance contract.

According to the "Regulations on Travel Agency Liability Insurance for Travel Agencies", the insurance amount of liability insurance handled by travel agencies shall not be lower than the following standards: the liability compensation limit per person for domestic tourism is RMB 80,000; The liability compensation limit for inbound tourism and outbound tourism is RMB 160,000 per person. The sum insured is determined based on the insured value and generally cannot exceed the insured value.

The insured value is the basis for calculating the amount of insurance compensation, and the amount of insurance compensation cannot exceed the amount insured. Both affect the determination of the amount of insurance benefits.

The sum insured is the maximum amount that an insurance company can bear in an insurance contract to indemnify or pay insurance benefits.

The sum insured is the maximum amount paid by the insurance company, so the sum insured is generally greater than or equal to the actual amount of compensation paid by Lu Youshi. On the other hand, the sum insured is also the basis for the insurance company to calculate the premium. The difference between the insured amount and the insured value is that the insured amount, in life insurance, because the value of human life is difficult to measure with the goods and quarrel coins, so the insured amount is based on the economic security of the insured, the ability of the insured to pay the insurance premium, and the negotiation between the two parties of the insurance is predestined.

In life insurance, the insured value is generally determined by the maximum amount agreed upon by both parties in the event of an insurance accident. Human life cannot be measured by objective value standards, so there is no question of insurance value. To put it simply, the insured value is the money that the party can get if he wants to surrender the insurance, and the insured amount is the money that the party can get after his death.

The meaning of the sum insured: The sum insured is the amount of insurance paid by the insurance company after the accident.

It is the abbreviation of the insured amount, which refers to the maximum limit of the insurer's liability for compensation or payment of insurance money, which is also the maximum limit for the insurance company to pay reasonable expenses, and is also the main basis for calculating insurance premiums.

In addition, in the property insurance contract, the valuation of the insured value and the determination of the insured value directly affect the size of the insured amount. When a partial loss occurs to the insured object, unless otherwise agreed in the contract, the insurance company shall compensate according to the proportion of the insured amount to the insured value; When the sum insured exceeds the insured value, it is considered excess insurance, and the insured amount in excess of the insured value is invalid.

The amount of insurance is determined by a variety of factors, subjectively depends on their own needs and financial capabilities, the higher the amount insured, the greater the ability to resist risks, but the higher the amount insured, usually the higher the premium, everything should be decided on your own budget.

1. The sum insured is too low.

If the sum insured of an insurance policy is too low, then its ability to resist risks is very small, and it loses the meaning of buying insurance.

2. The sum insured is too high.

The premium of insurance is largely determined by the amount insured, the higher the amount insured, the more expensive the premium of the insurance, the greater the economic pressure on the corresponding policyholder to buy this insurance, for the average family, the excess premium expenditure will seriously affect the quality of life of the family and increase the financial burden.

Therefore, the low amount of insurance is insufficient, but the higher the better, and you must stand on your own budget position and choose the most appropriate amount of insurance.

The sum insured is the abbreviation of the insured amount, which refers to the maximum amount of compensation paid by the insurance company after the insured is out of insurance, that is, the maximum limit of reasonable expense compensation, and the sum insured is also the main basis for calculating the insurance premium.

In property insurance, the sum insured is determined according to the insured value, and the effective insured amount must be within the limit of the insured value; In liability and credit guarantee insurance, the two parties to the insurance contract agree on a maximum compensation limit according to the specific circumstances of the subject matter of the insurance, and although the insured amount is not determined when some liability insurance is insured, the total compensation limit and the single or single person compensation limit will be determined; In life insurance, because the value of human life is difficult to measure in monetary terms, the amount of insurance cannot be determined based on the value of human life, but the amount of insurance is determined through negotiation between the parties to the insurance according to the insured's economic security needs and ability to pay insurance premiums.

1. Insured amount = insured value, in general property insurance, the actual value of the insurance subject is often used as the insured amount; 2. The insured value of the insured amount is mostly in the cargo transportation insurance, and the actual value of the goods plus the reasonable profit from the sale of the goods is allowed to be used as the insured amount;

3. The insured amount "insured value, in general property insurance, the allowed insured amount is lower than the actual value of the subject, and the insufficient part is regarded as the self-insurance of the insured;

4. The amount of insurance is determined according to a unified standard, which is not chosen by the policyholder, and is mostly used in compulsory insurance or some life insurance and liability insurance;

5. The amount of insurance is not determined in advance, and it is mostly used in agricultural insurance, and when compensation occurs, compensation is calculated according to the actual loss at the time of loss;

6. The amount insured is determined according to the policyholder's ability to pay and protection needs, and is mostly used in general life insurance.

Sum insured, ieSum insured, refers to the maximum amount of liability that an insurance company can bear to indemnify or pay insurance money in an insurance contract.

The sum insured is the maximum amount that the insurance company can pay, so the sum insured is generally greater than or equal to the actual amount paid. On the other hand, the sum insured is also the basis for the insurance company to calculate the premium.

The guaranteed rating should be reasonable, and it is not good to be too high or too low.

1.The sum insured is too high: the higher the sum insured, the more money you have to buy insurance, and the high premium will increase the financial burden on the family, which is very meaningless.

2.The sum insured is too low: it cannot resist the loss caused by the risk. For example, if it costs about 300,000 yuan to have a serious illness, then buy a critical illness insurance with an insurance amount of 100,000 yuan.

To no avail at all.