Insurance Term - Sum Assured and Maturity ValueThe sum assured is the amount of money an insurance policy guarantees to pay up before any bonuses are added. In other words, sum assured is the guaranteed amount the policyholder will receive. This is also known as the cover or the coverage amount and is the total amount for which an individual is insured. Maturity value is the amount the insurance company has to pay an individual when the policy matures. This would include the sum assured and the bonuses. If the policy holder passes away before the policy matures, the beneficiary gets the sum assured along with the bonus too (if any). If the policyholder is alive when the policy matures, he/she will get Rs 2,00,000 as well as any bonuses declared during the tenure of the policy.