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MIB Reports Drop In U.S. Life Application Activity

By Staff Writer

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NU Online News Service, April 13, 2004, 6:01 p.m. EDT – The MIB Group Inc., Westwood, Mass., says U.S. life insurers checked 0.9% fewer life insurance applications in March than they checked in March 2003.[@@]

In March, activity for U.S. applicants over age 59 grew 8.2%, but activity for U.S. applicants under age 45 fell 2.2%.

Canada generated stronger activity than the United States did. There, the overall activity level rose 0.6%, MIB reports.

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.