U.S. life insurers continued to receive fewer requests for individual coverage from young applicants in July and 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.
Overall MIB U.S. activity volume has fallen in most months since early 2006.
Activity has been especially weak for applicants under age 60.
In July, MIB U.S. application volume was down 0.9% for all applicants, and it fell 4.8% for U.S. applicants ages 0 to 44.
Activity increased 0.8% for applicants ages 45 to 59, and it jumped almost 13% for applicants ages 60 and older.