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MIB: January Life Applications Up 9.1%

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NU Online News Service, Feb. 7, 4:23 p.m. – The MIB Group Inc., Westwood, Mass. says the U.S. and Canadian life insurers it serves handled 5.2% more individual life applications in January than they handled the previous month, and 9.1% more than they processed in January 2001.

Applications from older consumers drove sales in the United States, MIB says.

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 the search activity for its own databases to compute a life application activity index.

The life index includes results for policies that account for more than 95% of all U.S. and Canadian individual life premium revenue, MIB says.