Few people have ever heard of the Medical Information
Bureau, but there's a good chance that it knows all about you. The
MIB's main job is to catch people who falsify their insurance
applications. If an insurer knows that you had heart surgery, it will
likely report this to the bureau. If you later apply for medical or
life insurance but fail to mention the operation, a quick check with
the MIB can uncover it. The result: Your application may be declined,
or the insurer may insist on a higher premium. The MIB is just one
good reason not to lie on an insurance application. Even if an
untruth slips through the cracks, the company that writes the policy
can later cancel the agreement or even refuse to pay a claim if it
can show the policy was issued under false pretenses.
