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When you apply for Mortgage Protection Insurance, if the insurance company you apply with is a member company of the Medical Information Bureau (MIB), they'll transmit coded information to MIB about your health, just like other insurers have. If the company receives information from your MIB that leads them to decline your application for Mortgage Protection Insurance, they'll send you an adverse action letter.
An adverse action letter is not intended to disclose to you what information has been found on your MIB report; instead, it's used to let you know that information on your MIB file lead to this decision. That letter will give you the information that you need in order to contact MIB and get a copy of your report. This will help you understand what information lead to your decline and, if it's incorrect, how to fix it.
|Jennifer Mathes, Ph.D.|