The sum insured refers to what the basic sum insured means

What does the basic sum insured mean.

The basic amount of insurance refers to the amount clearly marked on the insurance policy, and the amount of insurance refers to the amount of insurance compensation that the insured or beneficiary can get. The basic sum insured and the sum insured of some insurance products are the same, but the sum insured of some insurance products is calculated in units of the basic sum insured, for example, the sum insured of some insurance products is twice the amount of the basic sum insured. The basic insurance amount is generally agreed between the policyholder and the insurance company at the time of application, but it must meet the insurance company's insurance regulations and will be stated on the policy.

Questions. What is the meaning of the maturity insurance benefit paid according to the sum of the premium paid in the contract and the basic insurance amount?

Maturity insurance money refers to the total amount of insurance money that the insured can receive after the expiration of the insurance contract. Maturity insurance benefits are mainly found in term insurance contracts, which means that when a term insurance policy you have purchased expires, the insurance company will pay you a specified fee at that time.

Questions. In that case, will the premium paid be refunded? Or only refund the insurance money. Surrender Premium.

Basic sum insured.

The basic insurance amount shall be agreed between the policyholder and the insurance company at the time of application, subject to the insurance company's insurance regulations at that time, and the agreed insurance amount will be stated in the insurance policy.

The cash value corresponding to the basic insurance amount = the cash value of the policy, extended reading: [insurance] how to buy, which is better, teach you to avoid these insurance"pits"

The basic insured amount of insurance refers to the amount of insurance stated in the policy at the time of signing the contract, which is generally agreed by the policyholder and the insurance company. The basic sum insured is generally the base of the actuarial assumptions, and the amount of the claim is generally related to the basic sum assured. Some insurance stipulates that if the insured has an insured accident agreed in the contract, the insurance company will generally pay the corresponding claim amount according to the contract, such as 100% of the basic sum insured, 50% of the basic sum insured, and so on.

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Some partners may be entangled in the basic sum insured and the amount insured, in fact, the basic sum insured is a term used in the calculation, and the sum insured generally refers to the maximum amount of compensation. In some insurance terms, the basic sum insured and the sum insured are the same. In other terms, the sum insured is not the same as the basic sum assured.

The basic sum insured we choose can generally be configured according to individual needs, financial situation, expenses that may need to be covered, loss of income, etc. So how much is the basic sum insured to choose and what is the right amount of insurance? Everything you want to know is here:

What is the right basic sum insured for insurance? Let's talk about the doorway inside

Since the basic sum insured is related to claims, it is also necessary for us to pay attention to the payout ratio when buying insurance. For example, critical illness insurance companies with excellent performance in the market generally have additional claims for critical illness, such as 50% of the basic sum assured or 80% of the basic sum assured. It is also better to set the payout ratio for mild to moderate illness at 30% of the basic sum insured and 60% of the basic sum assured respectively.

A good critical illness insurance policy looks like this! You've been lied to for so many years.

That's all there is to it! Hope that helps!

Hope!