What is a primary purpose of the Medical Information Bureau (MIB)?

The primary purpose of the Medical Information Bureau (MIB) is to assist in underwriting and claims purposes. The MIB is a nonprofit organization that serves as a centralized repository for information about an individual's medical history. This data is used by insurance companies to evaluate risk and make informed decisions during the underwriting process.

When insurers assess an individual's risk for life, health, or disability insurance, they utilize MIB records to gain insights into prior medical conditions or insurance claims. This helps to streamline the underwriting process and reduce the potential for fraud by providing accurate and comprehensive medical histories. By facilitating this exchange of information, the MIB helps insurers maintain accuracy and consistency in their risk assessments and claims evaluations.

In contrast, the other choices do not accurately reflect the primary function of the MIB. While the organization does provide information to health insurers, it is not available to all insurers indiscriminately, nor does it collect payments from policyholders or offer medical coverage recommendations. The focus remains on assisting insurers in managing risk through accurate medical histories.