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Material Misrepresentation - A report made to the underwriter before receipt of risk, which is material to his decision in accepting and evaluating the risk.

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Mature - When an insurance policy's certain cash value equivalents the primary death benefit, it is said to "endow" otherwise mature. Whole Life contracts usually endow at the insured's age 100.

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Maturity - The date upon which the face value of a life insurance policy, if not earlier invoked due to the emergency covered (death), is paid to the insurance policy holder.

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Maturity Value - The amount payable under a Whole Life insurance policy if the policy holder lives to the last age on the death table on which the values of the agreement were based.

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Medical Examination - A medical history and examination finished by a doctor, whom the insurer might need of the candidate during the underwriting procedure - classically, paid for by the life insurer guaranteed the application.

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Medical Information Bureau (MIB) - A data pool service, which stores private reports on the health histories of people who, in the past, have applied for insurance policy from other member companies.

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Money Back Policy - Unlike endowment plans, in money back insurance policies, the policy holder receives periodic "survivals payments" during the term of the insurance policy and a lump-sum sum on existing its term.

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Moral Hazard - Hazard arising from any nonphysical, personal characteristic of a risk that increases the possibility of loss or may intensify the severity of loss for instance, bad habits, low integrity, poor financial standing.

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Mortality - The frequency of deaths in percentage to an accurate population.

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Mortality Rate - The number of deaths in a team of people normally articulated as deaths per thousand.

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Mortality Table - A table presenting how many members of a group, initial at a sure age, would be alive at each succeeding age. It is used to calculate the likelihood of dying in, or existing through, any period, and for the assessment of an annuity.

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Mortgage Protection Insurance - A type of Term Life policy that pays off the remaining amount of a mortgage upon the death of the insured. Typically, the death benefit reduces according to a planned, which fits the moribund payoff necessities of the mortgage.

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Multi-Year Premium Mode - A premium payment option where upcoming annual insurance premiums are paid in advance at a discount.

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Mutual Insurance Company - An insurance company in that the ownership and managed is vested in the insurance policy holders and a part of excess earnings might return to insurance policy holders in the form of dividends.

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Mutual Fund - Pooled money from shareholders, which is invested in an assortment of securities, including stocks, bonds and for the money market securities. Mutual funds provides the individual investor the return of diversification and specialized management.

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