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MIB: U.S. Life Activity Fell 4.1% In 2003

By Staff Writer

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NU Online News Service, Feb. 27, 2004, 5:05 p.m. EST – The MIB Group Inc., Westwood, Mass., says U.S. life insurers checked 4.1% fewer life applications in 2003 than they checked in 2002.[@@]

Activity for U.S. applicants over age 59 rose 5.4%, but activity for U.S. applicants between the ages of 45 and 59 was flat, and activity for U.S. residents under age 45 fell 6.8%.

Canadian application activity fell only 1.4%.

Activity for Canadian applicants over age 59 rose 6.8%. Activity in the 0-44 age group fell 3.2%, MIB says.

MIB is a nonprofit group that collects information about individual life insurance customers for most U.S. and Canadian life and health insurance companies. The group uses the search activity statistics for its own databases to compute the life application activity statistics.