Texas Life Insurance Company ("Texas Life") collects Information concerning Individuals who apply for or obtain products or services from Texas Life and uses this Information only for business purposes. These business purposes include administering our products, processing requested transactions and claims, and evaluating requests for insurance and other services we offer.
We get most Information directly from Individuals. In many cases, that information is sufficient. However, if we need to verify Information or need additional Information (e.g., for underwriting or claims purposes), we may obtain Information from persons in addition to the applicant or proposed insured, such as adult family members, employers, and medical providers. Information collected by us may relate to finances, employment, health, avocations or other personal characteristics, as well as to previous transactions with us. For instance, we may at our expense:
- Ask the applicant or another proposed insured to have a medical evaluation, which may include tests, such as an electrocardiogram.
- Ask the applicant or another proposed insured to submit to blood and urine tests to determine, for example, the presence of blood cholesterol and related lipid (fat) levels, screening for diabetes or other conditions, and the presence of other substances such as certain drugs and nicotine.
- Ask physicians, hospitals, or other medical care providers to confirm or add to the medical data already given to us.
- Obtain a report from a consumer reporting agency. Obtain information about the applicant's or a proposed insured's occupation and finances from financial sources or business associates.
We will generally obtain written authorization before obtaining any of the tests or additional information described above.
It is also common for an insurance company to ask a consumer reporting agency to confirm and add to the information given in an application for an individually underwritten insurance product. Such agencies are independent and impartial. Reports provided by a consumer reporting agency may reflect an Individual's mode of living, character, general reputation and personal characteristics. Information on past and present employment record, job duties, driving record, health history, use of alcohol and drugs, finances, hazardous sport activities, and marital status may be included, as well as other similar information. The agency may get information by talking to an applicant, members of the applicant's family, business associates, financial sources, neighbors, and others. The information may be kept by the agency and later given to others as permitted by the federal Fair Credit Reporting Act and any other applicable federal or state law.
The Medical Information Bureau, Inc. (MIB) is one such consumer reporting agency. It is a nonprofit organization of life insurance companies and operates an information exchange for its members. If you apply for insurance to another insurer that is a member of MIB, MIB may supply that company with any information in its file. We may make brief reports to MIB. The reports will include certain medical and non-medical information that may affect the insurability of any person for whom coverage is sought. If you contact MIB, it will disclose information it has about you in its file. If you feel the information in MIB's file is not correct, you can ask it to correct the information as provided in the federal Fair Credit Reporting Act. You can write to MIB, Inc., 50 Braintree Hill, Suite 400, Braintree, Massachusetts 02184-8734, call (866) 692-6901 (TTY (866) 346-3642 for the hearing impaired) or contact MIB at www.mib.com.