NU Online News Service, Jan. 16, 12:37 p.m. – The MIB Group Inc., Westwood, Mass., says demand for life insurance from the U.S. and Canadian life insurers it serves remained stable in 2001, registering a slight 0.1% increase over demand in the previous year.
A surge of activity during the fourth quarter of 2001 offset a similar high level of activity in early 2000, according to The MIB Life Index Annual Report. The second through fourth quarters of 2001 showed stronger sales of life insurance than the same period in 2000, with the fourth quarter activity levels being at the highest three-month level since the fourth quarter of 1999.
“Insurance activity in all age groups was strong, while any distortion caused as a result of Regulation Triple-X was dissipated by the third quarter of 2000,” says Fran Marinelli, MIB vice president and chief marketing officer.
MIB is a nonprofit group that collects information on individual life insurance customers for most U.S. and Canadian life and health insurance companies. The group uses search statistics for its own databases to compute its life application activity index.
The life index includes results for companies that account for more than 95% of all U.S. and Canadian individual life premium revenue, MIB says.