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February 13, 2018 at 01:22 PM
MIB Group Inc. says life insurance application activity was 4.4% lower in January than it was in January 2017.
Activity for people ages 45 to 59 was especially weak: Application flow for people in that age group fell 6.3%.
Activity dropped 3.7% for people ages 0 to 44, and 3.6% for people ages 60 and older.
MIB is a Braintree, Massachusetts-based insurance industry group that collects data that life insurers can use to screen applications for life insurance and other forms of insurance for evidence of errors, or fraud. Issuers feed about 90% of medically underwritten applications through MIB systems.
The group reported earlier that overall application activity was 1% in December 2017 than in December 2016.
