Young Americans’ life insurance application activity continued to cool in December, as older Americans’ application activity soared.
Application activity for consumers of all ages was fairly strong, and roughly comparable, through September, according to application activity data from MIB Group Inc.
Activity began to plummet for consumers ages 0 through 44 and climb for consumers ages 60 and older starting in October, according to the MIB data.
(Related: Young Consumers Shun Life Market: MIB)
MIB is a nonprofit group that helps member insurers share information used in the review of applications for life insurance, disability insurance and other medically underwritten products.
MIB has estimated that members use its databases to check about 90% of medically underwritten applications.