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Info Center Glossary of Terms
Glossary of terms used on this site
There are 264 entries in this glossary.M
| Term | Definition |
|---|---|
| Medical |
A document completed by a physician or another approved examiner and submitted to an insurer (insurance company) in order to provide medical information. This is usually done to determine insurability (or lack of insurability) or is sometimes done in relation to a claim |
| Medical Expenses |
Reasonable charges for medical, surgical, x-ray, dental, ambulance, hospital, professional nursing, prosthetic devices, and funeral expenses. What is considered reasonable is outlined in a policy. |
| Medical Payments, Auto |
Coverage, which is optional, under an auto policy to pay for medical expenses for bodily injury caused by an auto accident, regardless of fault. Coverage for persons other than the named insured and his or her family members is typically restricted to circumstances when they are occupants of the insured auto |
| Medical Payments, General Liability |
A general liability coverage that reimburses others, regardless of fault, for medical or funeral expenses incurred as a result of bodily injury or death sustained by an accident |
| Mexico Coverage |
Coverage which is sometimes provided under automobile policies for the operation of an insured motor vehicle within Mexico, usually limited to a stated number of miles from the U.S. border |
| Minimum Premium |
The lowest amount of premium to be charged for providing a particular insurance coverage |
| Misrepresentation |
The act of knowingly presenting false information. |
| Mobile Equipment |
Equipment such as earthmovers, tractors, diggers, farm machinery, forklifts, etc., that even when self-propelled, are not considered as automobiles for insurance purposes |
| Monopolistic State Funds |
States or Jurisdictions where an employer must obtain workers' compensation insurance from a state fund or qualify as a self-insurer, as is allowed in five of the states: North Dakota, Ohio, Washington, West Virginia, Wyoming, Puerto Rico and the U.S. Virgin Islands |
| Mortality Rate |
The number of deaths in a group of people, usually expressed as deaths per thousand. |
| Mortality Table |
A table showing the incidence of death at specified age groups. |
| Mortgage Clause |
Property insurance provisions granting protection for the mortgagee named in the policy. It establishes that loss to mortgaged property is payable to the insured and to the mortgagee named in the policy |
Info Center Glossary of Terms
