mutual life insurance company: A life insurance company owned by policyholders who share in the company’s surplus earnings.
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mutual holding company: A corporation structure that allows the insurance companies within it to sell stock for up to a 49 percent stake of the company without passing proceeds onto policyholders.
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multiple employer trust (MET): A trust established by a sponsor that brings together a number of small, unrelated employers for the purpose of providing group medical coverage on an insured or self-funded basis.
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multiline insurer: An insurer that writes financial guaranty and property/casualty insurance.
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multiline discount: When an insured buys more than one type of insurance (auto, home, or life) from an insurance company, the insurer may offer a discount of premiums for one or more of the policies.
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mortgage insurance: There are actually two types of mortgage insurance. Usually, people mean private mortgage insurance, or PMI, which protects a mortgage company against a defaulted loan. PMI does not benefit the homeowner. If you bought your home with a down payment of less than 20 percent of its value, your bank probably made you [...]
mortality table: A statistical table showing the death rate (probability of death) at each age.
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morbidity: Frequency and severity of sicknesses and accidents in a well-defined class or classes of persons.
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modified life insurance: A type of whole life policy with a premium that is relatively low in the first several years but that increases in later years.
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miscellaneous expense: Expenses connected with hospital insurance; hospital charges other than room and board such as x-rays, drugs, laboratory fees, and other charges.
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