Question
In a life insurance contract, the stated sum of money to
be paid to the beneficiary upon the insured’s death is termed as?Solution
Sum of money for which an insurance cover is obtained, usually shown on the top sheet (face) of the policy. In life insurance, face amount is the sum paid on the policy's maturity date, on the death of the insured, or (if the policy terms permit) on his or her total disability
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