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MIB: Buyers Submit Fewer Applications

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U.S. life insurers may have received fewer requests for individual coverage in August than they did in August 2006.

The MIB Group Inc., Westwood, Mass., says U.S. life insurers checked 4.8% fewer individually underwritten life insurance applications in August than they checked in the comparable month a year earlier.

Year-to-year activity comparisons have been falling since March 2006.

The MIB activity index has fallen during most months during the past 3 years.

MIB U.S. application volume was down 6.2% for U.S. applicants ages 0 to 44; down 4.1% for applicants ages 45 to 59; and up 1.3% for applicants ages 60 and over.

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