Maximum - Annual or Lifetime

An upper limit on costs or services covered by a plan. For example, a plan may limit you to 60 days of occupational therapy or put a ceiling on the dollar amount of coverage it will provide over your lifetime. Some plans have limits; some don’t, so check your policy.

Medical Questionnaire (Medical Form)

A form issued and required by some insurance companies on which medical/health information must be given on the insured person.

Medical Underwriting

The process whereby the persons to be insured are asked a number of questions about their health and, based on the information they provide, the insurance company will decide the conditions of your coverage.

Misrepresentation

A false or misleading statement. (1) In insurance sales, a false or misleading statement made by a sales agent to induce a customer to purchase insurance is a prohibited sales practice.
(2) In insurance underwriting, a false or misleading statement by an insurance applicant may provide a basis for the insurer to avoid the policy.