Life Activity Increases: MIB
Activity was strongest for the oldest consumers and weakest for the youngest.
MIB Group Inc. says its overall life insurance application activity index was 0.8% higher in July than in July 2017.
Activity also rose in June. In June, the MIB life insurance application activity index increased 0.7%, year-over year.
(Related: Life Application Activity Inches Higher: MIB)
Earlier this year, activity figures appeared to be better for the youngest consumers.
Since May, the figures for the oldest consumers have looked better.
- Application activity for consumers ages 60 and older was 4.8% higher in July than in July 2017.
- Activity for consumers ages 45-59 increased 2.1%.
- Activity for consumers ages 45 and younger fell 1.2%.
Life insurers formed MIB to give them a mechanism for sharing underwriting information. Insurers use the data from the Braintree, Massachusetts-based consortium to check the information in insurance applications.
A full copy of the new MIB summary report is available here.
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