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MIB: Life Activity Off 3.4% in September

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Application activity for individually underwritten life insurance fell in September by 3.4% compared to last year. The finding comes after three months of year-over-year expansion.

The MIB Group Inc., Braintree Mass., has published new life activity data in an analysis of U.S. life insurers’ use of MIB databases to check individually underwritten life applications.

Activity volume fell for applicants age 0-44 by 7.1%. Activity was down by 1.7% in the 45-59 age group but was up 6.9% for ages 60 and up year-over-year.  

The drop in activity negated unseasonal gains that were seen from June through August however,while still in the midst of a rickety economy, Q3 2011/2010 was relatively stagnant, down 0.3% compared to a 2010/2011 Q3 decline of 2.6%.