Covensure Brokerage LLC
  • Home
  • Quotes
    • Medicare Supplement Coverage Quote
    • Life Insurance Quote
    • Annuity Quotes
    • Long Term Care Insurance Quote
    • Critical Illness Insurance Quote
    • Group Benefits Insurance Quote
    • Health Insurance Quote
    • Other Quotes >
      • Dental Insurance Quote >
        • Ameritas
        • Medico
      • Disability Insurance Quote
      • Final Expense Insurance Quote
      • Travel Insurance Quote
  • Medicareful
    • Medicare Solutions
    • Part B Excess Charges
  • Dental
  • Travel
    • IMG - International Health & Travel Medical Insurance
    • GeoBlue Travel Health Insurance
  • Senior Discounts
    • Dental
  • Service
    • Update Contact Info
    • Contact My Carrier
    • Free Consultation
  • Insurance
    • Medicare Supplement Coverage
    • Life Insurance
    • Annuities
    • Cancer Insurance Coverage
    • Long Term Care Insurance
    • Critical Illness Insurance
    • Group Life/Health Benefits
    • Health Insurance
    • Hospital Indemnity Insurance
    • Recovery Care Insurance
    • Other >
      • Disability Insurance
      • Final Expense Insurance
  • About
    • Refer a Friend
    • Insurance Carriers
    • Agency Photo Gallery
    • Newsletter Signup
    • Blog
    • News
  • Contact
  • LOG IN

Covensure Brokerage LLC Blog

5 Ways Your Insurance Companies Can Learn More About You

9/8/2017

0 Comments

 
Picture

As the cliché goes, you can run, but you can’t hide. Life insurance companies take this seriously. But, it is also for your own good. To speed up the process of your policy application, remember to answer all of the questions as honestly as you can. You can try to hide things but your life insurance company will find out in the end. If you’re curious about how they do this, here are the most common ways.

1.    Prescription Drug HistoryPrescription histories in the last 10 years are sold to life insurance companies. This is because it has only been in the last decade that this information has been saved electronically. ExamOne, a part of Quest Diagnostics, and Milliman IntelliScript gather prescription claims data from pharmacy benefit managers and sell reports to insurers.

According to Milliman, data transfer happens within seconds. Such report includes drug name, dosage, fill date, pharmacy and even the physician information.
​

2.    Information from Previous Health and Life Insurance ApplicationsAnother company which has a data-sharing service for its member life and health insurance companies is the MIB Group Inc. The insurer can share certain pieces of medical information about you with MIB when you apply for an individual policy.


For example, you had an episode of minor stroke. That information is given a code which other insurers can see if you apply for coverage again. However, MIB has information about you in the past seven years if you’ve applied for individual life, health, disability, long-term care or critical illness insurance.
​

3. Your Driving and Public RecordsCompanies such as LexisNexis Risk Solution and ExamOne gives insurers motor vehicle reports from any state – reckless driving and speeding tickets in the past few years. LexisNexis is also one of the companies which scan public records to help insurers screen applications, such as bankruptcy.
4. Inside the Data Evaluation ProcessAccording to LIMRA, a financial service research group, almost all life insurers use data collected by MIB. Most insurers use prescription databases, lab results and motor vehicle records to help decide whether to issue policies to potential clients. 
5.  With Your PermissionThese are all pieces of information from you, with your consent and signature. These are medical histories, prescriptions, and current health records.

These investigations are all part of your insurer’s mission to keep you protected. If you have questions, you can talk to a trusted insurance agent about the type of policy that you need. Covensure Brokerage LLC has its clients as their first priority with affordable rates and comprehensive policies. To learn more about how we can help you please contact our agency at (248) 572-1580 or Click Here to request a free quote.
0 Comments



Leave a Reply.

    Contact Us

    (248) 572-1580​
    900 Wilshire Drive
    Suite 202
    Troy, MI 48084​
    Click Here to Email Us

    Archives

    January 2018
    November 2017
    October 2017
    September 2017
    June 2017

    Categories

    All
    FAQs
    Final Expense Insurance
    Financial
    Health Insurance
    Insurance
    Life Insurance
    Local
    Medicare Coverage
    Safety

    RSS Feed

Navigation

Homepage
Insurance Quotes
Policy Service
Insurance Products
Contact Us
Agent Login

Connect With Us


Share This Page

Contact Us

Covensure Brokerage LLC
900 Wilshire Drive
Suite 202
Troy, MI 48084​
(248) 572-1580
Click Here to Email Us

Location

Tweets by CovensureLLC
Website by InsuranceSplash
  • Home
  • Quotes
    • Medicare Supplement Coverage Quote
    • Life Insurance Quote
    • Annuity Quotes
    • Long Term Care Insurance Quote
    • Critical Illness Insurance Quote
    • Group Benefits Insurance Quote
    • Health Insurance Quote
    • Other Quotes >
      • Dental Insurance Quote >
        • Ameritas
        • Medico
      • Disability Insurance Quote
      • Final Expense Insurance Quote
      • Travel Insurance Quote
  • Medicareful
    • Medicare Solutions
    • Part B Excess Charges
  • Dental
  • Travel
    • IMG - International Health & Travel Medical Insurance
    • GeoBlue Travel Health Insurance
  • Senior Discounts
    • Dental
  • Service
    • Update Contact Info
    • Contact My Carrier
    • Free Consultation
  • Insurance
    • Medicare Supplement Coverage
    • Life Insurance
    • Annuities
    • Cancer Insurance Coverage
    • Long Term Care Insurance
    • Critical Illness Insurance
    • Group Life/Health Benefits
    • Health Insurance
    • Hospital Indemnity Insurance
    • Recovery Care Insurance
    • Other >
      • Disability Insurance
      • Final Expense Insurance
  • About
    • Refer a Friend
    • Insurance Carriers
    • Agency Photo Gallery
    • Newsletter Signup
    • Blog
    • News
  • Contact
  • LOG IN
✕