Question

Difference between sum & amount and principle amount

Answer 1

Principle sum

the sum specified to be paid under the terms of an accident or health insurance policy in case of the death of the insured or the loss of limb or sight due to an accidental injury.

Sum

sum is a quantity obtained by addition or aggregation or sum can be the basic unit of money

Amount

amount is the total, aggregate or sum of a material.

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