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
Increase / Decrease in Basic Sum Assured is not allowed in this Policy.
Where, Minimum Guaranteed Sum Assured on Maturity shall be the Basic Sum Assured.
In such cases the Policy shall be subject to re-underwriting and the Basic Sum Assured and Top-Up Sum Assured shall be subject to Your eligibility as per our Underwriting norms and the mortality rate to be deducted shall be calculated proportionately on such Basic Sum Assured and Top-Up Sum Assured payable.
If you choose this add-on option, an additional amount equal to 100% of Basic Sum Assured will be payable to the Nominee on your (Life Assured’s) death due to accident during the policy term.
Any change in the Basic Sum Assured is not allowed post inception of the policy.
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 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.
Basic Sum Assured means an absolute amount chosen by the Policyholder at the Date of Inception of Policy and as specified in the Policy Schedule.