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MIB: Application Activity Falls

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U.S. life insurers received fewer requests for individual coverage in September 2008 than they received in September 2007, but they received more requests from older applicants.

The MIB Group Inc., Braintree, Mass., says U.S. life insurers used MIB databases to check 4.4% fewer individually underwritten life insurance applications in September 2008 than they checked in the comparable month a year earlier.

MIB U.S. activity volume has fallen in most months since March 2006, MIB experts say.

MIB U.S. application volume was down 6.5% for U.S. applicants ages 0 to 44 and 3.7% for applicants ages 45 to 59. Volume rose 5% for applicants ages 60 and over.