U.S. life insurers researched fewer requests for individual coverage in May than they did in May 2010, but activity for older applicants continued to increase.
The MIB Group Inc., Braintree, Mass., has published life activity data in an analysis of U.S. life insurers’ use of MIB databases to check individually underwritten life applications.
Overall U.S. activity volume dropped 2.6% in May. Activity volume fell 4.7% for applicants ages 0 to 44, and it fell 3.3% for for applicants ages 45 to 59.
Activity for applicants ages 60 and older increased 5.7%.
“May’s growth in the ages 60 plus group was the smallest monthly gain seen for this age group since February 2008,” MIB says in a comment on the latest results.
In April, overall MIB application research activity was 1.1% higher than in April 2010.
- Allison Bell