Exactly Whats on a Mib Report?

[UW Guy]

I was told that MIB information is highly guarded. The reports they release to consumers are does not have what insurance companies have access to. Does anyone know if this is true?

Will oncological radiation treatments show up on MIB if no other treatments such as chemo or prescriptions were prescribed?

Do records stay on MIB permanently or do they purge after a certain number of years?

It won't tell you if there's been radiation. MIB for any disorder only tells you the disorder, an idea on how it's been treated (i.e by physician or operation), a timeframe, and where the reporting company got the info.

As for timeframe, I've seen codes up to ten years old but it's rare to see much older than 8 except for big time stuff like oncology histories.

It's the underwriter's job to confirm the codes match the insured and then see what they want to do. If they match and the insured doesn't fess up to it on the medical we usually just order records. Usually it's there- lo and behold they conveniently forgot to mention it.

 

[Ebell]

It's the underwriter's job to confirm the codes match the insured and then see what they want to do. If they match and the insured doesn't fess up to it on the medical we usually just order records. Usually it's there- lo and behold they conveniently forgot to mention it.

UW Guy, does that mean everytime an APS is ordered that the UW believes there's more to the story than the applicant is willing to disclose? Does it usually mean a decline is more than likely?

I know since most carrier applications will ask if applicant has been declined or rated in recent years, the applicant needs to answer honestly. So would it be best to pull an application if we think there might be possibility of getting declined vs being declined and having to answer "yes" to the above question on an application?

 

[peteybear]

I got my mib report and it was blank as I haven't applied for insurance in over 7 yrs. Supposedly inquiries stay 2 and all other info stays 7 such as ailments you have. IT DOES NOT SAY IF YOU WERE DECLINED OR RATED. They don't want to bias other co's underwriting decisions. To be honest I think the rx check is more important as it's more current.

 

[UW Guy]

UW Guy, does that mean everytime an APS is ordered that the UW believes there's more to the story than the applicant is willing to disclose? Does it usually mean a decline is more than likely?

I know since most carrier applications will ask if applicant has been declined or rated in recent years, the applicant needs to answer honestly. So would it be best to pull an application if we think there might be possibility of getting declined vs being declined and having to answer "yes" to the above question on an application?

From my slightly jaded perspective-every time I see a clean-sheeted Medical I tell my self to wait for the records (if thy're age and amount required) because odds are the guy is conveniently forgetting that he was diagnosed Type II diabetic (with blood like the Kool-Aid Man), major recurrent depression, and a couple episodes of optic neuritis all in the past year.

If I had a dime for every occasion people forgot they were rated/declined with someone else and didn't mention it to us mos company's UW's could retire in 2-3 years. It doesn't increase the likelihood I decline the insured but if I go out looking for records as you well know that does potentially throw open Pandora's Box. Guy drinks too much and doctor thinks he should cut down? It's in there. Smoked until five years ago but doctor never changed his notes so it looks he still does? Congrats, onus is on you to prove the insured does smoke again. But to answer your question- don't pull the app just because the person didn't tell us about a rating/decline somewhere else. Sometimes it's an embarrassing issue and you can still make a quality offer on it.