Older Consumers' Life Application Activity Rises 4.4%: MIB
Overall application activity was down 0.1%, year-over-year.
MIB Group Inc. says its overall life insurance application activity index was 0.1% lower in August than in August 2017.
But activity for consumers ages 45 and older was up.
(Related: Life Activity Increases: MIB)
MIB is a Braintree, Massachusetts-based consortium that provides some of the information life insurers use to verify applications for life insurance.
Analysts at MIB use application-checking volume to serve as an indicator of how the life insurance sales environment is doing.
- Application activity for consumers ages 0 to 44 fell 1.9%.
- Activity for consumers ages 45 to 59 increased 0.6%.
- Activity for consumers ages 60 and older increased 4.4%.
For the first eight months of the year, overall MIB life application activity is down 0.2% when compared with the first months of 2017.
Life Happens is running a Life Insurance Awareness Month campaign this month, and that campaign is relying heavily on social media outreach. It’s possible that the awareness month campaign could increase the September application activity level for consumers ages 0 to 44.
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