sum assured

noun

The amount of benefit that an insurance contract pays out to a beneficiary on the occurrence of a contingent insured event.

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Meanings

nounsum assured (plural sums assured)

plural sums assured · alternative SA

  1. businessThe amount of benefit that an insurance contract pays out to a beneficiary on the occurrence of a contingent insured event.
Cite this entry
APA

sum assured. (n.d.). In WatkinsX Dictionary. Retrieved November 4, 2026, from https://dictionary.watkinsx.com/word/sum%20assured

MLA

“sum assured.” WatkinsX Dictionary, https://dictionary.watkinsx.com/word/sum%20assured. Accessed November 4, 2026.

Chicago

WatkinsX Dictionary, s.v. “sum assured,” accessed November 4, 2026, https://dictionary.watkinsx.com/word/sum%20assured.

Source: sum assured on Wiktionary, CC BY-SA 4.0.