A second chance to uncover potential anti-selection during the contestable period.
MIB Follow-Up Service℠ (Plan-F)
Our Follow-Up Service (Plan-F) enables our members to uncover misrepresentation made by the proposed insured during the contestable period and is an important source of post-underwriting evidence.
Through an automated reporting process, MIB’s Plan-F alerts carriers to any new applicant information submitted by another member for two years following the original inquiry to the MIB Checking Service. This allows a member to rescind a policy for significant misrepresentation in advance of a claim being submitted.
Plan-F in Action
SITUATION: A $4 million policy issued to a 55-year-old male, standard, non-smoker, who reported a normal stress test on the applications.
FINDING: An abnormal thallium stress test was reported to MIB from an application for additional insurance.
RESULT: The policy was rescinded and reissued at a more equitable premium.
FOLLOW-UP SERVICE (PLAN-F)Interested in learning more?
Find out how you can get a second chance to spot anti-selection.