U.S. life insurers received fewer requests for individual coverage from young applicants in June than they received in June 2008, but they received more from older applicants.
The MIB Group Inc., Braintree, Mass., has published that finding in an analysis of North American life insurers’ use of MIB databases to check individually underwritten life applications.
MIB U.S. activity volume has fallen in most months since early 2006.
Activity has been especially weak for applicants under age 60.
In June, MIB U.S. application volume was down 4% for U.S. applicants ages 0 to 44, but it increased 0.4% for applicants ages 45 to 59, and it jumped almost 12% for applicants ages 60 and older.