In a traditional With Profit policy, there are two parts:
1. The Basic Sum Assured (sometimes called the minimum sum assured, the
With Profits Sum Assured or the Guaranteed Amount for Bonuses) This is
the information we need. It is a lower amount than the Death Benefit.
2. The Death Benefit ( the amount that is paid out if you die before the
policy matures) which is usually equal to the amount of the mortgage that
the policy was taken out for. This is not the information to put in here.
The Basic Sum Assured is stated on the original policy document and is
also normally found on your annual bonus statement.