Find terms beginning with the letter T… M...

Material Fact

Material fact refers to the relevant and important fact that can form the basis of taking a decision. In life insurance, material facts influence the insurer’s decision of insuring a risk and issuing a policy. Non-disclosure of material facts can lead to cancellation of the policy.

Maturity Claims

The claim for which a policyholder/life insured can apply for after surviving the complete policy term is called maturity claim.

Maximum Renewal Age

The maximum age to which a life insurance policy can be renewed to keep the policy active is called the maximum renewal age.

Misrepresentation

The act of making false statements or intentionally providing fake information or details during the purchase of a life insurance policy is known as misrepresentation. In case of misrepresentation by the life insured, the insurance company has the right to terminate the policy.

Maturity Date

Maturity Date is the date when an investment becomes due and is paid back to the investor.

Mortality Charges

Mortality charges in life insurance is the fee imposed by the insurance company in favour of the life protection of the policyholder.