The sum assured is the amount of cover you have, or the sum of money the policy will pay out when you die. This is normally related to your risk factor, your age and your monthly premium. You should also consider how this payment, will be made and how long afetr death. Will it be a one off payment, or a monthly sum?
It could be cheaper to take out life insurance when you are younger as the premiums you will pay may increase the older you get.
Did you know that a quote for the same policy from the same company could be invariable cheaper if you apply online because of the cheaper admin costs. This may also apply, if your continued communication is online. However in these cases you may need human contact over the phone.
In the unfortunate event that you need to make a claim on a life insurance policy the details of the procedure to make a claim will be outlined in the policy documents.
