The Braintree, Massachusetts-based organization believes life application activity fell 4.5% in the first quarter.
Activity dropped 2.1% for consumers ages 60 and older; 4.3% for consumers younger than 45; and 6.4% for consumers ages 45 to 59.
The activity numbers for March looked worse than the numbers for January and February. In March, overall activity fell 6%. Activity for consumers ages 45 to 59 sank 8.4%.
Lee Oliphant, MIB’s president, said, in a video posted on the MIB website that the numbers may look worse simply because activity grew at a strong rate from 2014 through early 2016.