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Term |
Definition |
| Major Hospitalization Policy or Insurance | A type of health insurance that provides benefits for most of the costs of hospitalization up to a limit and subject to a deductible. Such policies may contain internal maximum limits and percentage participation clauses. They are distinguished from major medical insurance by the fact that they pay only in the event of hospitalization. |
| Major Medical Insurance | A type of health insurance that provides benefits for most types of medical expenses incurred up to a limit and subject to a deductible. Such contracts may contain internal limits and a percentage participation clause (sometimes called a co-insurance clause). A major medical policy pays expenses both in and out of the hospital. |
| Managed Care | A health care coverage system in which all medical treatment and payments are approved or denied by the insurer. |
| Mandated Benefits | Benefits mandated by the state for inclusion in any major medical coverage. These may include mammograms, automatic coverage of newborn or adopted children, home/hospice treatment options and others. |
| Maturity | The date at which the face value of a life insurance policy comes due either by reason of death or endowment. |
| Medicare | A government-sponsored health insurance program for the elderly and disabled. |
| Morbidity | Sickness. A morbidity table shows the incidence of sickness. |
| Mortality | Death. A mortality table shows the incidence of death. |
