Life insurance & Mortgage Protection Glossary

You will encounter plenty of jargon and technical terms when looking for a MortgageProtection. Get ahead with A to Z glossary to Life InsuranceandMortgageProtection. Click on the letter below to search for the word you're looking for.

Maturity
An agreed date when an endowment policy ends and the proceeds, including any bonuses, are payable.

Medical evidence
Medical evidence (which could mean tests, or details of your/your family's medical history) may be required from your doctor/GP to work out the cost of cover.

Medical Insurance
also known as Health Insurance, is generally used to describe a form of Medical Health Insurance that pays for medical expenses. It is sometimes used more broadly to include Insurance covering disability or long-term nursing or custodial care needs.

Medical Insurance Screening
Increasingly, Health Insurance Policies are providing a medical screening service to allow policyholders to assess their health and the lifestyle changes they may need to make. This term can also be used in the context of having a medical undertaken before obtaining Medical Insurance to allow the insurer to determine the appropriate premium to be charged.

Mobile Home Insurance
Standard Buildings And Contents Policies do not cover mobile homes, and a specialised policy would be required.

Mortgage Payment Protection Insurance (MPPI)
Mortgage Payment Protection Insurance (MPPI) pays (a proportion of) Mortgage repayments in the event of accident, sickness or unemployment.

Mortgage Insurance
Mortgage Insurance is also known as Mortgage Protection or Mortgage Protection Insurance

Mortgage Life Insurance
Also known as Mortgage Term Assurance, Mortgage Life Insurance designed to help pay off your Mortgage in the event of your death.

Mortgage Protection
Mortgage Protection is also known as Mortgage Protection Insurance or Mortgage Insurance.

 Mortgage Protection Insurance (MPI)
Life Insurance where the lump sum payable reduces annually or monthly in line with the outstanding Mortgage balance. A popular option for those repaying a (a proportion of) Mortgage Loan.

Mutual
the Life Insurance Companies that are owned by its with-profits policyholders.

National Insurance Contributions
Employed and self-employed people pay a proportion of their earnings in National Insurance Contributions to - for example - qualify for a State Pension.

New-For-Old
A new-for-old Home Insurance scheme replaces existing possessions that are damaged or lost with their equivalent new items.

Office Insurance
Office Insurance is intended to cover office equipment (desks, computers, etc) and can also include elements of liability cover.