U.S. application activity for individual underwritten life insurance was up 1.4 percent year-to-date (YTD) as compared with 2011 numbers, all ages combined.
MIB Group Inc. published the findings in its MIB Life Index, a measure of life insurance application activity in the U.S.
The index, which is released monthly, is based on the number of searches MIB life member company underwriters perform on the MIB Checking Service Database.
This year’s results were driven by strong activity in the first half of the year that continued into closing quarters before declining in the final months. The lull in application activity, particularly in December, may augur a rough beginning for the industry in 2013. December’s depressed activity, during what is typically a high performing month (activity for the composite Index was up 0.3 percent), was exemplified by sluggish activity in the 60+ age group.