Click here to enter our contest! Close Watch a Video of Last Year's Winner
Benson Kearley IFG helps you understand...

The world of insurance can be quite hard to understand. We’re here to provide you with terms you can understand, give you advice and offer our help—all right at your fingertips.

Insurance Glossary

M

MAKE AND MODEL

Manufacturer and model names of a motor vehicle.

MANAGEMENT EXPENSE RATIO (MER's)

The sum of all the expenses associated with managing a mutual fund divided by the fund's average net assets.

MANUFACTURER (VEHICLE)

Name of the manufacturer of a make of automobile.

MARKET CAPITALIZATION

The total dollar value of all outstanding shares of a company.

MARKET TIMER

An individual who believes he or she can predict the direction of future movements of the markets and exploit them for profit.

MARKET TIMING

The allocation of investment funds between the money market (i.e. T-Bills, GICs, savings accounts) and the stock markets. Money is invested in money markets when stock market performance is anticipated to be lower and in stock markets when the return on money market products is expected to be lower.

MARKET VALUE

The current price in a fair market of financial instruments. 

MATERIAL MISREPRESENTATION 

The policyholder / applicant makes a false statement of any material (important) fact on his/her application. For instance, the policyholder provides false information regarding the location where the vehicle is garaged.

MATURE AGE DISCOUNT

Reduction of premium payable according to the age of the insured.

MISREPRESENTATION

The assertion of a material fact which the insured knowingly distorts.

MISREPRESENTATION, FALSE REPRESENTATION

Intentional provision of false information to an insurer by an insured when giving a notice of loss.

MONEY MARKET FUND

A mutual fund constructed of short-term, highly liquid, low-risk debt instruments.

MORAL HAZARD

A condition of morals or habits that increase the probability of a loss from a peril.

MORALE HAZARD

An attitude that increases the probability of loss from a peril. The attitude of, "It's insured; so why worry?" is an example of a morale hazard.

MORTGAGE BOND

A bond that has property pledged as security of payment.

MORTGAGE INSURANCE POLICY

In life and health insurance, a policy the benefits from which are intended to pay off the balance due on a mortgage or meet the payments on a mortgage as they fall due upon or after the death or disability of the insured.

MORTGAGEE

A person to whom property is mortgaged.

MOTION SENSOR

Component of an alarm system.

MOVABLE PROPERTY

Property owned or used by an insured which does not qualified as real estate.

MUTUAL FUND

A pooling of the money of a group of investors with similar investment objectives in order to provide increased diversification at a lower cost. The cost of professional money management is split among all investors in the fund

Watch a message from our President...

We are independent insurance agency leaders at the top of our game, with our feet planted firmly in our community. Click on the icon below to watch a video from our President, Stephen Kearley.

Get your FREE quote NOW!

Call us today to get your free quote or start a quote online. Anytime someone calls for or submits a a quote, we donate $10 to Southlake Regional Hospital—supporting healthcare excellence.

Contact us at 1.800.463.6503, Monday-Friday 8:30 a.m. to 5:00 p.m.

Start your HOME or AUTOMOBILE quote today!

Contact Us

For more information, or if you have questions, please give us a call at our toll-free number, at 800.463.6503. We’re open Monday to Friday, 8:30 a.m. to 5:00 p.m.

If you’re contacting us after our scheduled business hours, please contact us here.