Provision that may appear in a hospital or medical insurance policy; allows payment for normal pregnancy.
Insurance Encyclopedia
Maternity care
In an obstetrical case, inpatient hospital care that includes use of the delivery room, postpartum care, and care of the newborn infant.
Maternity cash benefit
A benefit payable under some private health insurances at a specified rate, e.g. £250 for each child, after the policy has been in force for at least 10 months.
Mathematical reserves
a life insurer’s actuarially calculated assessment of its obligations to policyholders; broadly the difference between the present value of anticipated policyholder benefits and present value of future premiums.
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Provision made by an insurer to cover liabilities (excluding liabilities which have fallen due) arising under or in connection with contracts for long-term business.
Mature (Life Insurance)
A policy is said to mature when its face value is paid out; for example, when the insured dies.
Mature minor
Individual (mid- to late-teen) considered mature enough to understand a physician’s recommendations for treatment and give his or her informed consent. Also see minor and emancipated minor .
Mature Policies
Uninterrupted claims-made coverage continuously in effect for at least five years and no longer eligible for rating credits given on immature polices.
Mature policies (Liability Insurance)
A claims made policy that has not lapsed in the last five years. These policies can no longer receive the rating credits that are issued to immature policies.
Matured endowment
Endowment insurance policy that has reached the end of its term during the lifetime of the insured and is due for payment.
Maturity
the end of the term of, for example, an endowment policy.