U.S. life insurers received fewer requests for individual coverage in June than they did in June 2009, but activity for older applicants was much stronger.
The MIB Group Inc., Braintree, Mass., has published data supporting that finding in an analysis of North American life insurers’ use of MIB databases to check individually underwritten life applications.
Overall U.S. activity volume decreased 3.9%.
Activity volume fell 7.2% for applicants ages 0 to 44 and 3.1% for applicants ages 45 to 59. Activity for applicants ages 60 and older rose 8.1%
The decline in activity for applicants ages 45 to 59 is the first MIB has recorded since May 2009.