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What is sum insured?
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ough a novice may interpret the two to mean the same, the actual meanings are significantly different. While sum assured refers to the benefit, sum insured is the reimbursement of insured loss. <span>What is sum insured? Non-life insurance policies, such as motor, home and health, which work on the principle of indemnity offer an amount called sum insured. Indemnity refers to the compensation that insur


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