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Life Health > Life Insurance

Look Who Applied for Life Insurance in October

By Allison Bell

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MIB Group Inc. has published new data suggesting that older U.S. consumers were a lot more interested in life insurance in October than younger consumers were.

Overall life insurance application activity was down 2.8%, year over year, but the number of life applications from consumers ages 60 and older showed solid growth.

(Related: Older Consumers’ Life Application Activity Continues to Rise: MIB)

MIB is a nonprofit consortium that helps member life insurers screen life applications for inconsistencies.

MIB analysts use MIB application-checking volume figures as a life insurance application activity indicator.

In October:

  • Application activity for consumers ages 0 to 44 sank 7.3%.
  • Activity for consumers ages 45 to 59 fell 0.7%.
  • Activity for consumers ages 60 and older climbed 8.3%.

For the first 10 months of the year, overall MIB life application activity is down 0.5% when compared with the first 10 months of 2017.

— Read Older Consumers’ Life Application Activity Rises 4.4%: MIB, on ThinkAdvisor.

— Connect with ThinkAdvisor Life/Health on LinkedIn and Twitter.

Allison Bell

Think_Allison

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NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.