What is the amount of protection in insurance?

The amount of coverage in the insurance is the sum insured.

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

Under normal circumstances, property insurance will take the actual value of the insured object as the protection amount; Partial personal insurance.

and the sum insured of liability insurance.

Determined according to uniform standards; The sum insured for life insurance is determined based on the ability to pay and the need for protection.

In short, the amount of coverage varies from product to product.

Further Info: What is Insurance:

1.Insurance is meant to be safe and reliable; Later, it was extended into a security mechanism, which is a tool used to plan life finances, and is a market economy.

Conditional risk management.

It is an important pillar of the financial system and the social security system.

2.Insurance refers to commercial insurance in which the policyholder pays insurance premiums to the insurer in accordance with the contract, and the insurer bears the responsibility for compensating for the property damage caused by the occurrence of an accident that may occur as agreed in the contract, or bears the responsibility of paying insurance money when the insured dies, is disabled, sick, or reaches the age and time limit agreed in the contract.

Behavior. 3.From an economic point of view, insurance is a financial arrangement for apportioning the loss of an accident;

From a legal point of view, insurance is a contractual act, a contractual arrangement in which one party agrees to compensate the other party for its losses;

From a social point of view, insurance is an important part of the social and economic security system, and it is an "exquisite stabilizer" of social production and social life.

From a risk management perspective, insurance is a method of risk management.

Commercial insurance can be roughly divided into: property insurance, life insurance, liability insurance, credit insurance, allowance insurance, and marine insurance.

The large categories are classified according to the scope of insurance coverage, and the small categories are classified according to the type of insurance subject.

According to the scope of insurance protection, it is divided into: life insurance, property insurance, liability insurance, and credit guarantee insurance.

Insurance subject: The insurance subject is the subject of the insurance contract, which only includes the policyholder and the insurer. The insured, the beneficiary, and the policy owner are not insurance subjects unless they are the same person as the policyholder.

The policyholder refers to the person who has entered into an insurance contract with the insurer and has the obligation to pay insurance premiums in accordance with the insurance contract. The policyholder can be a natural person or a legal person, but must have civil capacity.

Insurer, also known as "insurer", refers to an insurance company that enters into an insurance contract with the policyholder and bears the responsibility of compensation or payment of insurance money. In China, there are joint-stock companies and wholly state-owned companies.

Two forms. The insurer is a legal person, and an individual citizen cannot act as an insurer.

The insured refers to the person who, according to the insurance contract, has the right to claim insurance money after the occurrence of an insured accident and whose property interests or personal life are protected by the insurance contract. The policyholder is often the insured at the same time.

The insured amount of insurance refers to the amount that the insurer should pay to the insured after the occurrence of an insured event.

If the insurer is able to determine the amount of insurance after receiving the claim for compensation, it shall pay according to the amount of insurance determined by the insurer; if it cannot be determined, it shall be paid in advance according to the amount that can be determined; After the final decision, the corresponding difference is paid. In different insurance contracts, the methods and principles for determining the insured amount are different, and in the property insurance contract, the assessment and determination of the insured value directly affect the size of the insured amount.

The insured value is equal to the insured amount. If the insured amount is lower than the insured value, the insurance company shall compensate in accordance with the ratio of the insured amount to the insured value. If the insured amount exceeds the insured value, it is excess insurance.

If the insured amount exceeds the insured value, it is invalid. Malicious overinsurance is a fraudulent act that can invalidate the insurance contract.

The meaning of the sum insured: In layman's terms, the sum insured is the amount of insurance paid by the insurance company after the accident occurs.

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 property insurance contracts, the valuation and 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 refers to the maximum amount of liability of the insurance company to indemnify or pay the insurance money under an insurance contract. That is, the actual amount insured by the policyholder for the subject matter of insurance; At the same time, it is also the basis for the calculation of insurance premiums charged by insurance companies.

The maximum amount of credit risk that the insurer bears in a credit insurance policy in an insurance year. That is, the total amount of compensation received by the insured from the insurer due to the loss of foreign exchange collection risk cannot exceed the maximum compensation limit of the policy.

Article 8 of China's "Comprehensive Clauses for Short-term Export Credit Insurance" stipulates: "The liability for compensation borne by this insurance policy every 12 months, including the liability for damage assessment within that 12 months as previously declared, shall not exceed the maximum compensation limit specified in the policy schedule." "This limit is determined by the insurer at the policy underwriting stage according to the insured's business scale, business conditions, product sales, shipping destination distribution and export amount, etc., and is not less than the sum of the insured's 23 largest buyer credit limits, so as to ensure that the insured is fully protected under credit insurance.

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Sum insured. The full name is the sum insured.

It refers to the maximum limit of the insurance company's liability for compensation or payment of insurance money under an insurance contract, that is, the actual amount insured by the policyholder for the subject matter of insurance; At the same time, it is also the basis for the calculation of insurance premiums charged by insurance companies.

In different insurance contracts, the methods and principles for determining the amount of insurance are different:

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 sum insured and is fully insured. If the insured amount is lower than the insured value, the insurance company will roll back and compensate according to the ratio of the insured amount to the insured value.

The amount insured exceeds the insured value is excess insurance, the insured amount in excess of the insured value is invalid, and the fraudulent overinsurance is fraudulent and may invalidate the insurance contract.

In a life insurance contract, because the value of the person cannot be measured, the insured amount is the maximum amount of payment or the actual amount to be paid by the insurer as agreed by both parties to the life insurance contract. For example, if the sum insured of life insurance is 1 million, then when the insured dies, the beneficiary will be compensated 1 million.

The amount of protection in the insurance is the insured amount, which refers to the maximum limit of the insurer's liability for compensation or payment of insurance money.

The amount of coverage in the insurance is also the maximum amount of compensation paid by the insurance company for reasonable expenses, which is the main basis for calculating the insurance premium. Under normal circumstances, property insurance will take the actual value of the subject matter as the amount of protection, the amount of insurance for some life insurance and liability insurance will be determined according to a unified standard, and the amount of insurance for life insurance will be determined according to the ability to pay and the demand for protection, and the amount of protection for different products is different.

Insurance is intended to be a safe and reliable guarantee, and then extended into a security mechanism, a tool used to plan life finances, a basic means of risk management under the conditions of market economy, and an important pillar of the financial system and social security system. Insurance refers to the commercial insurance behavior in which the policyholder pays the insurance premium to the insurer in accordance with the contract, and the insurer bears the responsibility of compensating for the property loss caused by the occurrence of the accident that may occur as agreed in the contract, or the insured bears the responsibility of paying the insurance money when the insured dies, is disabled, sick, or reaches the age and time limit agreed in the contract.

Critical illness insurance refers to the occurrence of a serious illness, may not be able to work for three or five years, the amount of critical illness insurance is a one-time payment, this money can subsidize the family, repay the mortgage, pay for children's education, etc., so the amount of insurance should best cover three to five years of income, such as an annual income of 100,000, the amount of insurance to buy 500,000. The sum insured of term life insurance is a one-time payment by Hu Shi, and the money can be used to repay the mortgage. The sum insured should generally be able to cover the debt and the living needs of the family in the next few years, such as a mortgage of 1 million yuan and the annual family expenses of 80,000 yuan, then the insurance amount should be at least 1 million yuan.

Medical pants and limb therapy insurance is reimbursed according to the actual medical expenses, so the insurance amount is high, not necessarily more than the loss, hospitalization in the general department of the hospital**, the general cost will not be very high, the current popular million medical insurance on the market, the insurance amount is more than 1 million.

The amount of coverage refers to the maximum amount of compensation that the insurance company will bear as agreed in the insurance contract.

The amount of coverage is an important clause in the insurance contract, which stipulates the maximum amount that the insurance company can pay after the occurrence of an insured event during the insurance period. That is to say, when the policyholder has purchased insurance and paid a certain premium, the insurance company will compensate according to the amount of protection agreed in the insurance contract when an insured accident occurs in the hailstorm.

The amount of coverage is usually related to the cost of insurance, and the higher the insurance cost, the higher the amount of coverage.