Is there an upper limit for the sum assured under a life insurance policy? — Harish Chuhan
Generally there is no upper limit stipulated by the regulator or the insurer for the sum assured under a life insurance policy. However, insurers have internal upper limits that depend on the financial position of the insured and the insurer’s financial underwriting policy. Moreover, the insured should declare his or her existing life cover to the insurer at the time of applying for a new policy.