[1]Did you work a few minutes this week on filing your important documents? Even with my documents organized, I still have to keep up those files.
Though I did not file any paperwork this week, I did access my files and sort in-coming insurance documents.
To start or maintain your files, take it one step at a time. Plan to spend a few minutes this week, set the timer, and organize.
In File Box #2, the first file opening houses our personal insurance documents: summary page [2], annual enrollment reports [3], former severance package [4], and privacy policies and travel insurance [5]. The last items in this first category are our medical information bureau reports.
Medical Information Bureau Reports
The MIB, Inc. (formerly the Medical Information Bureau, Inc.) [6] is a non-profit organization that keeps a database of any health, disability, or life insurance for which you have applied.
Information in your Report
If your applications required a medical exam where a medical issue was noted, then that medical issue is coded (per MIB’s system) and reported in their database. If you then apply for another policy, the new insurance company will access your MIB file and discover that information.
Since both Paul and I have life insurance policies for which we applied and had medical exams, I requested our free annual report from MIB, Inc. If you have never applied for health, disability, or life insurance, then you will not have any information on file.
NOTE: If you only have insurance through employer group plans, then you will not have information in your file. The MIB file only records information on personal insurance policies for which you apply.
Another reason your file might be empty would be if your insurance policies have been held longer than 7 years. Just like your credit report, entries older than seven years are purged from your file.
Requesting your Report
If you want more information regarding MIB, Inc., read this easy-to-understand article [7]. When you decide to request your free report (which you should), visit MIB, Inc.’s web site [6] for more information and their phone number.
Reviewing your Report
When you receive your free report, review it for errors, and file the accurate report in this file. If you find discrepancies, then contact MIB to correct the inaccuracies.
Our Medical Information Bureau reports complete our personal insurance category. As you request these reports, your insurance file will be in a pending status since you cannot add those document until they arrive. Just keep plugging along organizing other important documents, and then tackle these MIB documents when they arrive.
Great job working on your important documents! This process is time-consuming, but using time wisely now will save you time in the future. Keep up the good work, and happy organizing!
Question: Where are you in the process? I would love to cheer you on as you get your documents organized!