Life Insurance✓ Verified · outline & fact-checked · Sep 2026Difficulty 2/5
The Medical Information Bureau (MIB) is best described as:
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
The MIB is a nonprofit membership association of life and health insurers. Member companies report and retrieve coded medical and health information about applicants so that underwriting for one company can reveal material information previously given to another. It helps detect concealment and fraud. Agents generally cannot access an applicant's MIB file, and applicants have rights to request corrections under the Fair Credit Reporting Act framework.
Why the other options are wrong
- B) The MIB is not a government agency and does not issue medical licenses.
- C) MIB information is shared only with member insurers for underwriting, not sold to employers.
- D) The MIB is not a public registry; access is restricted to member insurers and the subject individual.
Memory hook
MIB = the insurers' shared memory about applicants' health. It catches the applicant who forgets to mention a condition.