Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Life Insurance

MIB: November Life Activity Falls

Your article was successfully shared with the contacts you provided.

NU Online News Service, Dec. 11, 2:43 p.m. – The MIB Group Inc., Westwood, Mass., says U.S. life insurers checked 7.8% fewer life insurance applications in November than they checked in November 2001 and 14.6% fewer than they checked in October.

MIB had hoped a smaller October decrease was the result of a spike in applications following the Sept. 11, 2001, terrorist attacks rather than a decrease in demand for life insurance, and MIB says November is usually slower than October.

“In the U.S. marketplace, November’s activity has lagged October’s in six of the past seven years,” says Stacy Gill, a vice president at MIB’s e-Services Corp. unit. “However, this year’s drop of 14.6% is the second largest October-to-November decline since 1997.”

MIB is a nonprofit group that collects information about individual life insurance customers for most U.S. life and health insurance companies. The group uses the search activity statistics 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.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.