The sum of money the assurer is prepared to pay the assured in total discharge of a contract before its maturity is

The sum of money the assurer is prepared to pay the assured in total discharge of a contract before its maturity is called the "surrender value". It refers to the amount of money that an insurance company will pay to the policyholder if they choose to terminate or surrender their policy before its maturity date. The surrender value is typically calculated based on the premiums paid and the length of time that the policy has been in force. It is important to note that surrendering a policy early may result in a lower payout than if the policy were to reach maturity. Additionally, surrendering a policy early may also result in penalties or fees, so it is important to carefully consider all options before making a decision.