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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 October than they did in October 2006.

The MIB Group Inc., Westwood, Mass., says U.S. life insurers used MIB databases to check 1.2% fewer individually underwritten life insurance applications in October than they used to check applications 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 2% for U.S. applicants ages 0 to 44; down 0.7% for applicants ages 45 to 59; and up 2.3% for applicants ages 60 and over.


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