Close Close

Life Health > Life Insurance

Look Who Applied for Life Insurance in October

Your article was successfully shared with the contacts you provided.

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%: MIBon ThinkAdvisor.

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