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MIB: U.S. Life Activity Growth Cools

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NU Online News Service, June 14, 1:33 p.m. – The MIB Group Inc., Westwood, Mass. says the U.S. life insurers it serves checked 4% more individual life applications in May than they did in May 2001.

The MIB activity growth rate was down from an activity growth rate of 10.9% reported for April.

“Although activity in the age group 45-and-older was up a healthy 8%, more modest growth in the 44-and-under age group dampened the overall growth in application volume for U.S. companies,” 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 life application activity statistics.

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