Medical Information Bureau (mib)
Definition of "Medical information bureau (mib)"
Central computerized facility that keeps on file the health history of the applicants for life and health insurance with member MIB companies. For example, the health record of an applicant for insurance with a member MIB company in Atlanta, Georgia, is available to another member MIB company in Shreveport, Louisiana. The MIB was organized to guard against fraud by applicants.
Popular Insurance Terms
Type of trust used to remove assets from a surviving spouse's estate, thereby excluding such assets from federal estate tax upon the death of the surviving spouse. This type of trust allows ...
Property owned by two or more parties in such a way that at the death of one, the survivors retain complete ownership of the property. ...
Coverage for a bank in the event of loss due to dishonest acts of its employees or individuals external to the bank. For example, if a teller goes to Mexico with the bank's money, the bank ...
Coverage for the perils of burglary, theft, and robbery. ...
Insurance company that is not a member of a rating bureau or is not under common ownership or management with other companies. The insurance company is said to stand alone. ...
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Endorsement to the special multiperil insurance (smp) policy that provides all risks damage coverage for real property. This special form provides only minimum cover, leaving the option for ...
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