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MIB: May Life Activity Rises 0.5%

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NU Online News Service, June 15, 2004, 7:31 p.m. EDT – The MIB Group Inc., Westwood, Mass., says U.S. life insurers checked 0.5% more life insurance applications in May than they checked in May 2003.[@@]

In May, activity for U.S. applicants over age 59 grew 7.9%, while activity for U.S. applicants under age 45 fell 0.4%.

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. Activity was flat in April.

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Canada generated weaker activity than the United States did. There, the overall activity level fell 1.8% in May, 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.