Sum Assured Definition. Sum assured refers to the pre-decided amount payable to the policyholder or beneficiary on the occurrence of insured event. There are ...SearchCloseSearchPayOnlineBecomeAnAgentRegisterforAutoDebitSearchTermInsurancePlansTermInsurancePlansTermPlanCalculatorCriticalIllnessInsuranceTermPlanwithReturnofPremiumCovid-19InsuranceClaimSettlementRatioInvestmentPlansInvestmentPlansInvestmentCalculatorTaxCalculatorGuaranteedSavingPlansGuaranteedIncomePlansULIPPlansTaxSavingInvestmentsRetirementPlansLifeInsurancePlansLifeInsurancePlansInsuranceCalculatorOnlineInsurancePlansChildInsurancePlansNRIPlansGroupInsurancePlansHealthInsurancePlansSaralJeevanBimaBlogBlogTermInsuranceCancerInsuranceLifeInsuranceChildInsuranceTaxSavingsInvestmentsRetirementPlanningCustomerLoginCustomerLoginPayPremiumPremiumPaymentOptionsTrackApplicationClaimsCentreHelpCenterRegisterforAutoDebitCertificateofInsuranceCheckUnclaimedAmountDownloadsUpdateCreditCardDetailsAboutUsAboutUsWhyMaxLifeAwardsandAchievementsESGCSROurLeadershipMediaCenterBecomeAnAgentDiversityandInclusionCareersProtection&YouPublicDisclosuresSupplierPortalQuickLinksPayOnlineBecomeAnAgentRegisterforAutoDebitHomeBlogTermInsuranceWhatissumassured?×RecentlyViewedSecureyourfamilyagainstunexpectedsituationsGetyourfreequotewithpersonalizedfeaturesthatbestsuitsyourneedsandrequirementsGetFreeQuote—ShareShareShareShareWhatisSumAssuredKnowaboutthedifferencesbetweenthesuminsuredandsumassuredindetail.#Term-Insurance100Views83SharesWhatisSumAssured?Lifeinsuranceisoneofthemosttrustworthywaystosafeguardyourfamilyagainsttheuncertaintiesoflife.DuringthecurrentCOVID-19pandemic,morepeoplearenowthinkingaboutfinancialplanning,onepillarofwhichislifeinsurance.Source:MaxLifeIndiaProtectionQuotientExpressTogetacomprehensivelifeinsurancecoverage,itiscrucialforeveryonetounderstandtheterminologiesofinsurance.Lifeinsuranceisplannedforfinancialassistancethattakescareofyourfamily’sexpensesinyourabsence.Asapartofthepolicy,sumassuredisacrucialterm