Presented by John Schraut
I had a recent conversation with an agent that had submitted a life case and was getting frustrated that the carrier kept ordering APS’s from multiple doctors. Before he wrote the case he did the basic field underwriting questions, but did find out she was declined for coverage a few years back. The client could not remember why she was declined for coverage. I suggested the agent work with the client to request her MIB record to understand better why she was possibly declined.
The agent was taken back by my statement, “people can get a copy of the MIB record”. Yes, they can request it online or by phone for FREE and it is mailed to them. It falls under the Fair Credit Reporting Act.
So I ask you, what do you know about the MIB system? It is a major part of the underwriting decision on the business you write every day; so don’t you think you should know more about it? Here is the link to explore how the MIB system works.