Basic Sum Assured means the amount specified in the Schedule as opted by the Policyholder at the time of taking the policy.

Basic Sum Assured means the sum assured of the Basic Policy as specified in the Policy Schedule or as varied by any Endorsement;

Basic Sum Assured means the sum specified in the Schedule, payable upon the death of the Member;

Examples of Basic Sum Assured in a sentence

In the event of death, the beneficiary would be entitled to the Basic Sum Assured less all the premiums due but not paid (if any) or the Accumulation Account, whichever is higher.
Sum Assured or Basic Sum Assured refers to the basic sum assured as set out in the Schedule to the Policy.
The higher of the Basic Sum Assured or the Accumulation Account will be paid on maturity.

More Definitions of Basic Sum Assured

Basic Sum Assured means the amount as specified in the Schedule

Basic Sum Assured. Means the amount mentioned in the Schedule. This is the minimum amount guaranteed on death of the Life Insured and payable as per the Plan Option chosen where all the due Premium(s) have been paid in full.

Basic Sum Assured. Means the amount mentioned in the Schedule as opted by the Policyholder on inception of the Policy and payable as per the terms and conditions of this Policy Document.

Basic Sum Assured. Means the risk cover (as given in the Schedule as Basic Sum Assured) guaranteed on death of the Life Insured subject to Policy being in force.

Basic Sum Assured means the amount as specified in the Schedule, based on which the Death Sum Assured and Guaranteed Maturity Benefit, which are payable accordance with Section 4 of the policy document.

Basic Sum Assured. Means the amount (as given in the Schedule) used to calculate the ‘Death Benefit’ as mentioned under clause on ‘Benefits Payable’. Kindly refer to the benefits payable section for the amount payable in the event of death or maturity.

Basic Sum Assured. Means the amount mentioned in Schedule as Basic Sum Assured and the same has been derived on the basis of Age, Policy Term, Premium Payment Term, Plan Option and the amount of premium chosen by the Policyholder.