How Can I See the Information Insurance Companies Are Seeing?
You can request a free copy of your MIB Consumer File once each year to see what participating life insurance companies may review during underwriting. Here's how the process works, and how to dispute anything that looks wrong.
You can request a free copy of your MIB Consumer File once each year to see what participating life insurance companies may review during underwriting. While it doesn't contain your complete medical history or prescription records, it can help you understand information that may affect your application and gives you the opportunity to dispute inaccurate information if necessary.
One of the questions we hear regularly is:
"Can I see what the insurance company is looking at?"
Sometimes people ask because they're simply curious.
Sometimes they've been declined.
Sometimes they received a higher premium than expected.
Sometimes they believe something in their insurance history is incorrect.
And occasionally...
They're right.
The good news is that you don't have to wonder.
If an MIB Consumer File exists for you, you have the legal right to request a free copy once each year.
That gives you the opportunity to review information that participating insurance companies may consider during underwriting.
If you're wondering why insurance companies gather this information in the first place, Why Do Insurance Companies Ask Medical Questions If There's No Medical Exam?
In Short
- You can request your own MIB Consumer File once each year at no charge.
- Reviewing your file may help you understand previous underwriting decisions and identify inaccurate information.
- Your MIB Consumer File is only one part of the underwriting process. Insurance companies may also review prescription history, medical records, and other authorized reports.
What Is an MIB Consumer File?
MIB is a nationwide specialty consumer reporting agency that works with many life insurance companies.
When you apply for individually underwritten life insurance with a participating insurer, you'll usually authorize that company to review your MIB Consumer File if one exists.
Despite what many people assume, MIB does not maintain your complete medical records.
Instead, it stores coded underwriting information that participating insurance companies have reported during previous life insurance applications.
That information may relate to medical conditions, hazardous activities, or other factors that were considered important during underwriting.
When you apply for coverage, the insurance company compares your current application with any information contained in your MIB Consumer File.
If something doesn't appear to match, the company may ask additional questions before making a decision.
Why Would You Want to See Your MIB Consumer File?
Many people never need to request it.
Others find it extremely helpful.
Reviewing your file may be worthwhile if:
- You've been declined for life insurance.
- You were offered a higher premium than expected.
- You're preparing to apply again.
- You believe incorrect information may have been reported.
- You simply want to understand what participating insurers may see.
Think of it much like reviewing your credit report.
Most people never discover a problem.
But if something is inaccurate, it's much easier to correct it before applying again.
Sometimes the Information Really Is Wrong
Most MIB Consumer Files are accurate.
In fact, MIB reports that only about 1% to 2% of consumer files require correction because of inaccurate or incomplete information.
Still, mistakes do happen.
A condition may have been misunderstood.
An application may have been completed incorrectly.
Information may have been reported incompletely.
Or an earlier underwriting decision may no longer accurately reflect your current situation.
Reviewing your own file gives you the opportunity to identify those issues before submitting another application.
Who Has an MIB Consumer File?
Not everyone.
According to MIB, you'll generally have a Consumer File only if:
- You applied for individually underwritten life insurance with a participating MIB member company.
- The application occurred within approximately the past seven years.
- Information of underwriting significance was identified during underwriting.
You may not have an MIB Consumer File if:
- You applied only for guaranteed issue life insurance.
- You applied only for group coverage.
- Your application wasn't individually underwritten.
- Your insurance company wasn't an MIB member.
- No underwriting information was reported.
If you're unsure whether a file exists, you can still request one.
If MIB has no record, they'll simply notify you.
How Much Does It Cost?
One of the best parts of the process is that it's free.
MIB provides one free Consumer File disclosure each year if a file exists.
You may also qualify for an additional free disclosure if you receive an adverse underwriting decision stating that MIB information influenced the company's decision.
How Do I Request My MIB Consumer File?
The process is straightforward.
MIB will ask for identifying information so it can verify your identity and locate the correct file.
That information is used solely to process your request.
Once your identity has been verified, MIB will either:
- Mail your Consumer File if one exists.
- Notify you that no record was found.
What Will I Receive?
If a Consumer File exists, it may include:
- Underwriting information maintained by MIB.
- The names of member companies that reported information.
- The dates information was reported.
- Companies that accessed your file.
- Companies that made inquiries about you.
- Certain disability insurance information when applicable.
To protect privacy, MIB stores information in coded form.
When they send your disclosure, they also translate those codes into understandable language.
Does This Show Everything the Insurance Company Sees?
No.
This is one of the biggest misunderstandings about MIB.
Your Consumer File is only one piece of the underwriting process.
Insurance companies may also review:
- Prescription history
- Medical records
- Previous insurance applications
- Laboratory results
- Information you provide on your current application
- Other legally authorized underwriting reports
If you'd like to understand how prescription history fits into the process, Why Do Life Insurance Companies Check Prescription History?
What About Prescription History?
Prescription history is usually separate from your MIB Consumer File.
Insurance companies often review prescription history because it provides a very reliable picture of your medical treatment.
Sometimes a medication confirms information already listed on your application.
Sometimes it raises additional questions.
Sometimes it simply helps us identify which insurance companies are likely to evaluate your situation most favorably.
If you've ever wondered why we ask detailed questions about medications, that's exactly why.
Prescription history often helps us recommend the right company before an application is ever submitted.
What If Something Is Wrong?
If you believe your MIB Consumer File contains inaccurate or incomplete information, you have the right to request a reinvestigation.
There is no charge.
MIB recommends requesting your Consumer File first so you can identify the exact information you believe should be corrected.
The more specific your explanation, the easier it is for MIB to investigate.
Supporting medical records or documentation from your physician can also be helpful.
A Helpful Step Before Applying Again
Most people don't need to request their MIB Consumer File before every application.
However, it may be worthwhile if:
- You've been declined previously.
- You received an unexpected underwriting decision.
- You believe a previous application contained inaccurate information.
- You know your medical records contain an error.
- You're preparing to apply again after several years.
Understanding what participating insurance companies may see allows us to compare companies more effectively and address potential concerns before an application is submitted.
Important Disclaimer
An MIB Consumer File is only one source of information used during life insurance underwriting.
Reviewing your file can be extremely helpful, but it will not show every piece of information an insurance company may consider.
Insurance companies may also review prescription history, medical records, previous underwriting information, laboratory results, application answers, and other authorized reports.
Correcting your MIB Consumer File does not guarantee approval or a specific premium.
Each insurance company applies its own underwriting guidelines when evaluating an application.
The Bottom Line
You don't have to wonder what participating insurance companies may see.
If an MIB Consumer File exists for you, you have the right to request it once each year at no cost.
Reviewing your file can help you better understand previous underwriting decisions, identify inaccurate information, and prepare for a future application.
More importantly, it helps us recommend the insurance companies that are most likely to evaluate your health history fairly and offer the best coverage available for your situation.
You Might Also Be Wondering...
Why do insurance companies ask medical questions if there's no medical exam?
Why do life insurance companies check prescription history?
Can I get life insurance if I have health problems?
How do life insurance claims work?
Have more questions?
A few common ones that come up alongside this article.
