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Managed Fund - the term describes broadly based funds which will have investments in blue chip equities, gilts/bonds, and property.

Married Couples Allowance - an income tax allowance that reduces the tax bill for some older married couples.

Material Fact - a material fact is one which is likely to influence an underwriter in the acceptance and assessment of the proposal. If there is any doubt as to whether or not a fact is material it should be disclosed. 

Maxi ISA - a type of Individual Savings Account.

Mini ISA - a type of Individual Savings Account.

Money Laundering - the process by which criminals turn criminal money into apparently clean money. Prevention of Money Laundering has lead to laws being passed that require advisers to collect a lot of personal details about clients.

Money Market Account - a cash based investment, that earns market based interest.

Money Purchase Arrangements - Benefits are entirely dependent upon the funds built up for the member. Most arrangements made by individuals are of this type, as are many company schemes.

Money Purchase Pension Scheme - your pension is determined by the size of the fund that you have built up through your own contributions and those of your employer. Other legal limits may be applied to those who have very large funds.

Mortgagee - the borrower.

Mortgage - a loan explicitly secured on property, and land, which is appropriately legally documented.

Mortgagor - the lender.

Mutual - a corporate structure in which the firm is owned by the policy holders (life/investment mutual) or savers/borrowers (mutual building societies). Advantages are normally considered to be low costs and no profit motive, disadvantages can be inefficiency and, in the event of problems there are no shareholders funds to provide compensation.