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Life Applications Off Almost 3% in July

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Individual U.S. life insurance applications handled by the industry fell 2.6% in July from July 2006 levels, according to the MIB Group Inc., Westwood, Mass.

Year to date, applications processed in 2007 declined 3.5% from the same period in 2006, according to MIB.

Decreased activity was seen in the 0-44 age group, off 4.5% year to date, and for applicants aged 45-59, off 1.7%.

However, the 60+ age group increased applications 5.2% vs. July 2006, MIB reports.