Life insurance - National amount?
n a insurance policy, whta is the meaning of SUM INSURED or NATIONAL AMOUNT or PROTECTION Amount? https://chat.deepseek.com/a/chat/s/c3860ace-f743-4de1-8617-b3e4d454a5f3 Excellent clarification. In the context of **Life Insurance**, these terms take on a specific and critically important meaning. In Life Insurance, **Sum Insured, Sum Assured, and Protection Amount are essentially synonymous.** They refer to the **guaranteed, fixed amount of money the insurance company promises to pay to the beneficiary (or nominee) upon the death of the insured person, provided the policy is active and all terms are met.** ### Core Meaning in Life Insurance Unlike property insurance (which is based on *indemnity*), life insurance is a **benefit contract**. The insurer promises to pay a **pre-defined, guaranteed sum** upon the occurrence of the insured event (death or, in some cases, critical illness as a rider). Think of it as the **face value** or the **core promise** of the policy. ### Key Char...
