What Is the Medical Information Bureau (MIB)?
The Medical Information Bureau (MIB) is a not-for-profit corporation. It functions like a credit bureau but focuses on compiling personal information, which is then used for life insurance underwriting.
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By Mark Fitzpatrick
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Head of Insurance, MoneyGeek
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including [CNBC](https://www.cnbc.com/2020/04/15/cant-keep-up-with-insurance-premiums-heres-what-to-do.html), [NBC News](https://www.nbcnews.com/business/autos/flooded-cars-are-problem-their-owners-future-car-buyers-n1278493) and [Mashable](https://mashable.com/article/tesla-insurance-rates). Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
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Edited by Victoria Copans
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Victoria Copans is a professional writer, editor and translator. She previously worked as the managing editor for online events industry publication XLIVE. As a self-described budgeting nerd, she was drawn to the personal finance space to help share important and useful information that people may not otherwise have access to. In her free time, she loves to travel, learn languages and explore the beautiful nature in her home of Vermont.
MF
By Mark Fitzpatrick
MF
Head of Insurance, MoneyGeek
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including [CNBC](https://www.cnbc.com/2020/04/15/cant-keep-up-with-insurance-premiums-heres-what-to-do.html), [NBC News](https://www.nbcnews.com/business/autos/flooded-cars-are-problem-their-owners-future-car-buyers-n1278493) and [Mashable](https://mashable.com/article/tesla-insurance-rates). Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
VC
Edited by Victoria Copans
VC
Victoria Copans is a professional writer, editor and translator. She previously worked as the managing editor for online events industry publication XLIVE. As a self-described budgeting nerd, she was drawn to the personal finance space to help share important and useful information that people may not otherwise have access to. In her free time, she loves to travel, learn languages and explore the beautiful nature in her home of Vermont.
Updated: September 19, 2024
Advertising & Editorial Disclosure
MIB, formerly known as the Medical Information Bureau, is a not-for-profit, member-owned corporation that has served life insurers in the U.S. and Canada since 1902. MIB helps life insurance companies evaluate applicants effectively through detailed MIB reports during the underwriting process. This bureau manages a comprehensive consumer database that enhances the accuracy and efficiency of medical underwriting in life insurance.
The Medical Information Bureau (MIB) does not collect detailed personal medical data, which is protected by HIPAA regulations. MIB information is based on coded indications of medical conditions, tests or risky behaviors reported by member companies.
You are free to access your MIB report at any time and can request a copy of the report for free once per year.
Most major insurance companies in the U.S. and Canada are members of the MIB, utilizing its consumer databases to ensure accurate underwriting.
The MIB or MIB Group, Inc. plays a vital role in the insurance sector by enhancing the underwriting process for life insurance companies across the U.S. and Canada. As a collaborative organization owned by its member insurers, the MIB maintains a consumer database that allows insurance companies to assess applicants more accurately and screen them for past or current medical conditions. In addition to consumer medical information, the MIB collects information about dangerous hobbies and traffic violations. This information helps insurers reduce and prevent fraud.
When consumers apply for insurance, the information they provide about their habits and medical histories is sent to the MIB insurance database. Information that insurers uncover during underwriting can also be added to the MIB consumer file, and any member company can then access the information if that person files for insurance. The process helps ensure that an applicant's medical information from the MIB is utilized effectively to protect insurers and policyholders alike.
MONEYGEEK EXPERT TIPInsurance offered by an employer does not typically require an MIB report, which means you’re automatically covered.
The Medical Information Bureau (MIB) consists of a network of insurance companies that strive to safeguard the integrity of the industry. The MIB was created to protect the industry and its customers by enabling the secure exchange of underwriting information, which prevents fraudulent claims and ensures fair policy pricing.
This collaboration of insurance providers forms a robust framework where MIB records are shared responsibly among member companies, enhancing the accuracy of risk assessment and supporting the overall health of the insurance sector.
The MIB functions in a way that’s similar to a credit bureau. While a credit bureau tracks your credit history using lender-provided information like your credit cards and loans, the MIB tracks your medical history in order to help insurance companies decide how insurable you are. Types of insurance that require MIB reports include:
The meaning of MIB in insurance centers on its function as a protective tool for insurers, ensuring that underwriting decisions are based on thorough and accurate medical information. MIB codes support this process, standardizing the recording of health conditions, treatments and medical consultations. MIB reports make data accessible and interpretable across the industry.
LIFE INSURANCE IF YOU HAVE A PRE-EXISTING CONDITIONIf you have a pre-existing medical condition or illness like cancer, you may not be confident that you’ll pass an insurance underwriting process. In this case, there are several different types of life insurance that do not require a medical exam or underwriting. These include:
Your Medical Information Bureau report includes information about your medical history, including diagnoses and treatment of illness, as well as other personal factors like your driving record, employment and whether or not you participate in dangerous activities, like skydiving. The information listed in the MIB report includes:
Insurance companies use the information in the MIB report to assess your application. While the MIB report is not the only factor that insurance companies take into consideration, it helps insurers verify that the information you provided in your application is accurate.
MONEYGEEK DICTIONARYInsurance Underwriting: The assessment of the risks you present when applying for insurance and the extent to which these risks affect your insurance premium and coverage.
The MIB takes steps to ensure that user data is safe and that an individual’s data is private. It employs MIB codes and only includes information pertinent to an insurance application. The MIB doesn’t collect or store medical records; it only collects information about your medical history. Access to your MIB report is limited to you and the insurance companies, ensuring confidentiality and security. Importantly, individuals must consent to the use of their MIB data as part of the insurance application process. Additionally, the MIB provides data only when requested by a member insurer and with the specific consent of the insurance applicant.
When evaluating life insurance applications, insurers utilize MIB records to ensure the information applicants provide is accurate and complete. An MIB insurance check offers access to a consolidated record of medical and non-medical information that may affect an applicant's insurability.
Below are ways insurers use the MIB database for life insurance:
Many insurers use MIB data in their underwriting process, serving as a tool for maintaining the reliability and integrity of insurance practices.
You can request a free copy of your MIB report once per year. You can access your report online or over the phone.
This report will include the same information that an insurer will see when assessing a policy application. Information in the report includes:
It’s a good idea to review your MIB report to make sure that it’s accurate and error-free. This helps to ensure that your application is fairly assessed.
You can request your report electronically by visiting the MIB website. Please note that the online form is unavailable on Saturdays from 2 a.m. to 4:30 a.m. Eastern Time and on Sundays from 2 a.m. to 7 a.m. Eastern Time.
You can call the MIB phone number (1-866-692-6901); its voice queue is available from 6 a.m. to 12 a.m. Eastern Time, Monday through Friday, except on holidays.
If you find any errors in your MIB report, you can take steps to dispute or change this information. In order to do so, you’ll need to submit a signed Request for Reinvestigation Form and provide information including your name, date of birth, where you live, your Social Security number and any items that you believe to be incomplete or inaccurate.
MONEYGEEK EXPERT TIPPeriodically reviewing your MIB report is important to ensure its accuracy and completeness. This step will help you guarantee a fair assessment of future insurance applications.
We’ve answered some frequently asked questions about the MIB to help you understand how it works.
What is the MIB?The MIB, formerly known as the Medical Information Bureau, is a cooperative data exchange formed by insurance companies to share applicant information to mitigate fraud and ensure underwriting accuracy.
Who makes up the MIB?The MIB consists of member insurance companies in the U.S. and Canada, and it operates to facilitate transparent and accurate data sharing.
What is the purpose of the MIB?The MIB helps insurance companies assess applicants by providing a secure platform to exchange relevant underwriting information.
What would the MIB identify?The MIB identifies discrepancies in medical and personal information provided by insurance applicants. It uses records from the MIB insurance database to help insurers assess application accuracy and reduce fraud.
Where does MIB get its information?The MIB gathers data from its member companies, which report relevant underwriting information, including medical histories and lifestyle details of insurance applicants.
Does the MIB have a record of whether you've been declined or rated for insurance?The MIB does not have a record of whether you've been declined or rated for insurance. Your MIB report only includes information about your medical history that has been provided by MIB members.
How long does the MIB have your records?Similar to your credit history, MIB records go back about seven years. Information that is older than seven years is not included in your report.
What is an MIB report?An MIB report contains coded records of an individual’s medical and lifestyle information used by insurance companies for risk assessment and policy underwriting.
How does an MIB report affect the life insurance application process?Insurance companies use the information included in your MIB report to verify the health information that you provide in your application and assess whether there are any omissions or discrepancies. The information in this report is coded in order to protect privacy, and only MIB member insurance companies can access it.
What are MIB members required to report?Members must report accurate underwriting information, including medical conditions and life insurance applications, to the MIB database for life insurance to maintain data integrity and support accurate risk assessment.
Is the MIB a government agency?No, the MIB is not a government agency but a private entity owned by its member insurance companies.
