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MIB: Application Activity Plummets

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U.S. life insurers continued to have a hard time reaching working-age consumers in April.[@@]

The MIB Group Inc., Westwood, Mass., says U.S. life insurers checked 5.7% fewer life insurance applications in April than they checked in April 2004.

In January, MIB found that U.S. life application activity rose 0.9%, but that increase was the first and last MIB has recorded since 2004.

Application activity for consumers age 60 and over has been holding steady in recent months but fell 1.2% in April. Activity fell 4.1% for consumers ages 45 to 59. Activity sank 7.2% for consumers under age 45.

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.


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