NU Online News Service, Aug. 13, 2003, 11:03 a.m. EDT – The MIB Group Inc., Westwood, Mass., says U.S. life insurers checked 1.4% fewer life insurance applications in July than they checked in July 2002.
But application activity fell only 0.6% from June, and Stacy Gill, MIB’s chief knowledge officer, says July is usually a slow month for applications.
“Over the past five years, the summer drop-off between June and July in the U.S. typically ranges from 1% to 16%,” Gill says. “This year’s June-to-July drop in the U.S. was less than 1%, suggesting further erosion in life insurance activity has not occurred.”
U.S. application activity increased in June for the first time in nine months.