U.S. application activity for individually underwritten life insurance was down 1.4 percent in July, all ages combined year-over year. The drop was typical, precipitated by summer listlessness.
MIB Group, Inc., Braintree, Mass., published this finding in its MIB Life Index, a measure of life insurance application activity in the US. Released monthly, the Index is based on the number of searches MIB life member company underwriters perform on the MIB Checking Service database.
Despite the slight decline in application activity, the finding was assuaged by spreading new business over one additional business day in July than in July of the previous year.