Which term refers to the agreement in a life insurance contract that details the sum paid upon the insured's death?

The term that accurately refers to the agreement in a life insurance contract detailing the sum paid upon the insured's death is the Insuring Agreement. This component of the policy states the insurer's promise to pay a specified amount, known as the death benefit, to the designated beneficiaries upon the death of the insured. It outlines not only the coverage provided but also the conditions under which the payment will be made, effectively forming the core of the life insurance contract.

Other elements, such as the Entire Contract Provision, serve different purposes. The Entire Contract Provision ensures that the policy and any attached documents represent the complete agreement between the insurance company and the policyholder. The Consideration Clause specifies the premiums that must be paid for the coverage, while the Assignment Agreement involves the transfer of rights to another party, which does not pertain directly to the definition of the sum paid upon death. Understanding the function of these various components helps clarify why the Insuring Agreement is central to the life insurance contract.