I have a client that got declined due to information on the MIB (dementia). She went to the doctor with temporary memory problems due to fibromyalgia (fibrofog...which apparently is normal with fibromyalgia). How can we get the MIB to be more specific with what it actually is to get her approved, or is this a lost cause?
MIB Question
- Thread starter briko3
- Start date
She can ask the company that declined her, to put something in writing telling her exactly why they declined her.
Also www.mib.com will give anyone a free copy of their report.
Also www.mib.com will give anyone a free copy of their report.
- 9,744
The MIB does NOT contain information about an individual's health and/or medical conditions.
- 10,722
Often times if the condition has gone away you can ask the underwriter to review the decline, and ask if a letter from the doctor further explaining the condition would help.
But it also depends on the product. Any history of dementia is usually an automatic decline for LTC, but not for LI
But it also depends on the product. Any history of dementia is usually an automatic decline for LTC, but not for LI
- Thread starter
- #5
- 222
MIB has a declination "code" listed on her.
Companies don't usually decline a case because a client is coded at MIB. It just lets companies know that there is a issue out there and that another company has seen this client and rated or declined the client.
At least that's how I understand it.
- Thread starter
- #7
Well, I'll give you the situation. I was doing a Foresters app since she was declined with another carrier and our IMO said there was no other fully underwritten option. When she did the phone interview, they got on with me and told me to ask the question again (alzheimers or demntia) I did and she said no. They then said the question was asked again because of the MIB regarding that specific question and because of that they can't issue.
- 10,722
Copy and pasted from the MIB website. I certainly learned something new from this...
What is MIB?
MIB Group, Inc. is a membership corporation owned by Member life insurance companies in the United States and Canada.
What does MIB do?
MIB maintains a database for Members to exchange confidential information of underwriting significance when an individual applies for life, health, disability income, long-term care or critical illness insurance. This information is maintained and safeguarded in a coded format that is accessible only to authorized personnel of a Member company to which you have applied for insurance and have authorized the company to use MIB as an information source.
here is the link:
Consumer Guide - MIB Group, Inc.
What is MIB?
MIB Group, Inc. is a membership corporation owned by Member life insurance companies in the United States and Canada.
What does MIB do?
MIB maintains a database for Members to exchange confidential information of underwriting significance when an individual applies for life, health, disability income, long-term care or critical illness insurance. This information is maintained and safeguarded in a coded format that is accessible only to authorized personnel of a Member company to which you have applied for insurance and have authorized the company to use MIB as an information source.
here is the link:
Consumer Guide - MIB Group, Inc.
- 9,744
The MIB contains underwriting outcomes; issued preferred, declined, postponed, etc.
- Thread starter
- #10
