Basic Sum Insured definition

Basic Sum Insured means the amount specified against each Insured Person/s representing the Company’s maximum liability for any or all the claims during the Policy Period specified in the Schedule to this Policy, subject to terms, conditions and exclusions of this Policy.In case of policies with more than one year tenure, the Basic Sum Insured specified on the Policy is the limit for each year. These limits will lapse at the end of every year and fresh limits up to the full Basic Sum Insured as opted, will be available for the next year.
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Basic Sum Insured means the sum insured for the basic plan and is shown in the Policy schedule of this Policy or any subsequent endorsement issued by Us.
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Basic Sum Insured means the amount specified against each Insured Person/s specified in the Schedule to this Policy, subject to terms, conditions and exclusions of this Policy.
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Examples of Basic Sum Insured in a sentence

  • The payment under this benefit is over and above the Basic Sum Insured, subject to limits specified, if any.

  • Policy No. or other reference of the relevant policy Where the policy number or other reference is NOT available, please provide: (a) the plan name; and (b) the Basic Sum Insured.

  • An analysis of the total of the authorized discharges’ CFS equivalents (based on maximum design capacity where available) shows that permittees discharging to the hydrologic network where flow persists currently account for approximately 298 cfs of authorized discharged flow.

  • The payment under this benefit is within the Basic Sum Insured, subject to the limits specified, if any.

  • The payment under this benefit is over and above the Basic Sum Insured subject to limits specified, if any.

  • It means any increase in the Basic Sum Insured granted by us without an associated increase in premium.

  • When the Face Amount of a Policy is based on one or more increases subsequent to issuance of the Policy, a reduction resulting from a partial withdrawal will be applied against the Addition Sum Insured and the Basic Sum Insured, respectively, of the Face Amount provided by the most recent increase, then against the next most recent increases successively and finally against the Additional Sum Insured and the Basic Sum Insured portions of the Initial Face Amount.

  • Where the policy number or other reference is NOT available, please provide: (a) the plan name; and (b) the Basic Sum Insured.

  • It means any increase or addition in the Basic Sum Insured granted by us without an associated increase in premium.

  • He opts for the following parameters under his Policy: Plan Option - Gold Option, Basic Sum Insured - `25 Lakhs, Policy TermPage 7- 20 years, Premium Payment Frequency - YearlyAnnualised Premium for his Policy is`2,539 (exclusive of GST) Scenario 1He gets diagnosed with Major Stage Cancer at the age of 40.


More Definitions of Basic Sum Insured

Basic Sum Insured means the absolute amount insured to be paid on the earlier occurrence of either death or diagnosis of Terminal Illness, as per the benefits chosen under the policy.
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Related to Basic Sum Insured

  • Excess Insurance shall not apply to any insurance coverage currently held by The Government of Bermuda, or to our Self-Insured Retentions of whatever nature.

  • Replacement Cost means the cost to repair or rebuild the improvements owned by Lessor at the time of the occurrence to their condition existing immediately prior thereto, including demolition, debris removal and upgrading required by the operation of Applicable Requirements, and without deduction for depreciation.

  • Insured means the Executive.

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.