Glossary

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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.
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