"To choose the sum" means to select or decide on the total amount or quantity of something. It refers to the act of making a decision about how much of something should be added or combined together.
Full definition
Variable maximum premium for plan 1: Depends
on chosen sum assured.
But be very accurate
while choosing the sum assured which will be given in the form of death benefit to your loved ones.
In addition to this unmatched convenience, you can
also choose your sum assured, the duration of the policy and more.
Now, you can
choose sum insured as well as take only those covers which you actually required and can pay premium for them only.
Calculate the premium as
per chosen sum assured and Policy Term basis your age.
Minimum variable premium for SBI Life CSC Saral Sanchay is not available and minimum variable premium for Birla Sun Life Vision Regular Returns Plan is Depends
on chosen sum assured.
One needs to
choose the sum insured for the CI rider with thought and care, taking into account the cost escalation.
And when it involves an exorbitant cost to treat a deadly disease like cancer, you should be careful
while choosing the sum insured.
This plan also offers premium rebate for
choosing sum assured of Rs 2 Lacs & above and on opting annual / semi annual premium payment mode.
Choose the sum assured depending on the amount for which you wish to be covered.
You can
choose sum assured between 10 - 20 times.
Flexibility to
choose sum assured in the range of minimum Rs. 1, 50,000 and maximum Rs. 100 crores in the multiples on 1000 and policy term as per requirement.
Customers can
choose the sum assured for the insurance and their monthly rentals as per their convenience.These «Red Postpaid» plans provide a chance to customers to insure their family's future well in time.
Investors have an option to
choose a sum assured of up to 5 times their premium amount, and also fund options that suit them.
As always, you are free to
choose a sum insured level which best suits your needs and we recommend you review the amount of your cover periodically, particularly if you have made changes to your assets.»
It involves two benefit options namely Life Option and Extra Life Option with the freedom to
choose sum assured multiple from the range of 10 to 40 of the annual premium.
You also have the opportunity to
choose the sum you wish to receive in the event of your death or if you are diagnosed with an illness.
The premium on even the best term plans depends on three basic factors: age, term of the policy and the sum assured you choose
In case of fire if the actual registered property value is found lesser than
the chosen sum insured, the claim for the same will be reduced in quantity.
One has the flexibility to
choose the sum assured and policy period (10/15 years).
ULIPS are flexible and dynamic in nature In case of ULIPS you can
choose the sum assured at the time of policy inception.
Survival benefits - this is usually 10 % of
the chosen sum assured.
You need to
choose a sum assured keeping this in mind.
This comes in handy as it can get little difficult to anticipate inflation and
choose sum assured accordingly up front.
This basic term - plan offered by BSLI requires you to
chose your sum assured and plan option (Increasing / Level term) and then you need to choose your policy term and premium pay term.
For example, The Max Bupa CritiCare policy gives the policyholder the option to
choose a sum insured that is payable as lump sum plus additional 10 % of the sum insured payable each year for subsequent five years.
So, even if
you choose a sum assured of Rupee 5 lakhs under your health insurance plan, there could be situations when your policy would cover only 50 % of the sum assured for the medical treatment required.
Many insurers provided customized plans under which the insured can
choose the sum assured.
The policy pays higher of
the chosen sum assured or 105 % of premiums paid along with the Fund Value in order to help you out with immediate financial crisis needed by you and the people dependent on you.
Mr. Sudhir's age is 30 and has an annual income of more than Rs. 7 lakh, so
the chosen sum assured must be around 70 lakh (Taking inflation into consideration and the fact that there would be loss of income an approximate assumption seems of 10 times seems appropriate).
So, you can
choose the sum assured according to your own choice, if you want to avail tax benefit.
The plan gives you the flexibility to
choose the sum assured amount.
At this rate it is most advisable to purchase health insurance at the earliest possible age and also mandatory to
choose a sum insured that doesn't fall short to appropriately cover your healthcare costs, particularly 25 - 30 years from your current age.
Loss and damage to jewellery like gold, silver, precious metals and stones and other valuable items due to theft, burglary, larceny or housebreaking will be equal to
the chosen sum insured for the Fire and Allied Peril plan.
ABSLI DigiShield offers you the freedom to
choose your sum assured and plan option, depending on your needs.
The policyholder can
choose the sum insured as per the need and requirement and seriousness of the disease.
This corpus post your demise would help your family meet their monthly expenses and so, it is important that
you choose your sum assured wisely.
On the other hand, if a person survives the defined term under a money back life insurance plan, he receives a particular percentage of
his chosen sum assured as Money Back payouts.
Once
you choose a sum assured, the plan option determines the enhancements to your chosen life cover over the course of your policy.
If the insured dies post deferment period, the sum assured on death, which is the higher of 125 % of
the chosen sum assured or 10 times the annual premium, simple reversionary bonuses and final additional bonus, if any, is paid to the nominee subject to a minimum of 105 % of all premiums paid till the date of death
Choose a sum assured that will suit your family's financial needs: Being underinsured is not a wise decision.