NU Online News Service, May 9, 5:33 p.m. – The MIB Group Inc., Westwood, Mass. says the U.S. life insurers it serves checked 10.3% more individual life applications in April than they did in April 2001.
“Application activity was driven by high volumes in the 60-plus age group, where the increase in activity was 20.2%,” Stacy Gill, a MIB vice president, says.
MIB is a nonprofit group that collects information on individual life insurance customers for most U.S. 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. individual life premium revenue, MIB says.