U.S. application activity for individually underwritten life insurance was flat at -0.3 percent in June, year-over-year, all ages combined, according to the MIB Life Index.
The report shows that U.S. life insurance application activity was flat (0 percent) in the second quarter, year-over-year, ameliorating a negative first quarter (-5.4 percent). At the close of Q2 2014, U.S. life application activity is off -2.7 percent year-to-date (YTD).
June’s application activity increased +1.2 percent from that of the previous May, consistent with seasonal averages. Improving quarterly results are welcomed just prior to the typically slow summer season.
U.S. application activity by age group was mixed in June.
Ages 0-44 were off -1.7 percent;
Ages 45-59 were flat at +0.3 percent; and
Ages 60+ were up +2.8 percent.
Second quarter activity by age group mirrored the improvements seen in the composite Index: