Glossary beginning with M

Insurance Glossary

Maturity Datesearch for term
  • An agreed date on which an insurance company pays out a lump sum.
Medical Expense Insurancesearch for term
  • Reimburses medical costs incurred as a result of an accident or illness as in hospital inpatient medical treatment or surgery, some outpatient charges for day surgery, consultations with specialists, X-rays and laboratory tests.
  • May have limits to the amount you can claim.
Medisavesearch for term
  • This is a national medical savings scheme which helps you put aside a part of your income into your Medisave account for your own or your family member’s medical expenses. It can be used to pay for hospitalisation, day surgery and certain approved outpatient treatments.
MediShieldsearch for term
  • MediShield is a national catastrophic medical insurance scheme that will help you and your dependants meet the costs of treatment for serious illnesses or prolonged hospitalisation. It operates on a deductible and co-payment system.