TITLE
"The Cost Effectiveness of The Medical Information Bureau,"
Journal of Insurance Issues
and Practices, Skipper, Harold D., Jr., 1979,
Vol. 3, No. 1: 49-60.
ABSTRACT
The Medical Information Bureau (MIB) is an incorporated, non-profit
organization which assists in the evaluation of life insurance
applicants and to a less extent, claimants. It is supported by,
provides information to, and obtains information from over 700
subscriber life insurers. A brief, coded, confidential report
on applicants is provided to subscribers with the understanding,
according to MIB rules, that the information is confidential and
may not be used as the basis for establishing an applicant's eligibility
for insurance. Rather, it is to be used as an alert to the need
for additional investigation.
The purpose of this study is twofold. First and most important
it is to determine the extent of the MIB's cost effectiveness
with a view toward providing a measure against which social costs--however
they may be defined ultimately by those who establish public policy
--may be evaluated. The second, less important purpose is to provide
guidance to MIB subscribers on how to take maximum financial advantage
of the Bureau files.
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