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INSURANCE
DEFINITIONS
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Maturity
Date
The date on which a payment becomes due at the end of the term of an endowment
policy or a fixed term security or loan.
Maturity Value
The amount payable to the insured at the maturity date of an endowment
policy.
MER
Medical Examiners Report. A report by a doctor who is required to examine
the individual concerned especially for the purpose. Used for underwriting
purposes.
MIB
Motor Insurers Bureau.
Morbidity Table
Actuarial statistics showing the frequency and duration of a sickness.
Mortality
Table
A statistical table showing the probability of death (death rate) at each
age.
Motor
Insurers' Bureau
The Motor Insurers' Bureau is a body funded by motor insurance companies,
which deals with claims for injury compensation when the driver at fault
is not insured, or cannot be traced.
Mutual
A commercial organisation owned by its members (as opposed to being owned
by shareholders). Examples are Building Societies and some life insurance
companies.
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ASSURANCE QUOTATION REQUEST
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