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Mechanic’s Lien

A statutory lien created in favor of contractors, laborers, materialmen and others (including architects, engineers or surveyors) who have performed work or furnished materials in the erection or repair of a building.


A medical-benefits program administered by states and subsidized by the Federal government. Under this plan, various medical expenses will be paid to those who qualify, regardless of age, subject to an income/asset test.

Medical Examination

Examination by a physician on behalf of an applicant for insurance or in substantiation of a claim.

Medical Expense Insurance

A form of Health insurance that provides benefits for medical, surgical and hospital expenses. This term is used to include coverages such as Basic Medical and Surgical insurance and Major Medical insurance, which are both “indemnity” type plans written by insurance companies.

Medicare Benefits

Benefits provided by a Federal program as part of the Social Security program. It applies to persons over 65 years of age and certain disabled beneficiaries regardless of age. Medicare has four parts: Part A – Hospitals is provided at no charge and Part B – Physician’s Services, which is optional and requires the Medicare “beneficiary” to pay a monthly premium, Part C – Medicare Advantage Plans which are provided by HMOs and PPOs, and Part D – Prescription Drug Insurance.

Mercantile Open Stock Burglary Policy

Crime policy that covers the insured’s merchandise, furniture, fixtures, and equipment against burglary.

Merged Credit Report

A credit report that contains information from three credit repositories. When the report is created, the information is compared for duplicate entries. Any duplicates are combined to provide a summary of credit.


In Crime insurance, any regular employee of the insured, who has care or control of the property outside the premises.Also includes the insured, a partner, or an officer.

Metes and Bounds Description

A legal description of a parcel of land that begins at a well-marked point and follows the boundaries using direction and distances around the tract back to the point of beginning.


Medical Information Bureau. An organization serving as a clearinghouse of medical information on risks reported to it by insurance companies as a source of underwriting information on applicants.