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MIB Reports Flat Life Activity For April

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NU Online News Service, May 13, 2004, 1:24 p.m. EDT – The MIB Group Inc., Westwood, Mass., says U.S. life insurers checked about as many life insurance applications in April as they checked in April 2003.[@@]

In April, activity for U.S. applicants over age 59 grew 6.9%, and activity for U.S. applicants under age 45 fell only 1%.

Although activity was flat, the market showed some signs of firming up. MIB has recorded drops in the overall U.S. activity level during most of the last 12 months.

Canada generated slightly stronger activity than the United States did. There, the overall activity level rose 0.2%, 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.