U.S. life insurance application activity may have started to rebound in April, in part because consumers ages 45 to 59 were more likely to apply for coverage, according to new activity data from MIB Group Inc.
In April, MIB says, overall activity rose 0.1%.
In March, MIB says, activity fell 4.9%.
Application activity has been much stronger since the beginning of the year for consumers ages 45 and older than for consumers under 45, and that trend continued last month.
Here’s how the year-over-year activity picture looked in April for the three major age groups MIB tracks:
- Ages 0-44: -4%
- Ages 45-59: -+1.3%.
- Ages 60 and older: +11%.
Life insurers in the United States created MIB to share data used in the life insurance application verification process. MIB bases its activity index figures on how often member companies use its data to check new applications.
A copy of the latest MIB life activity update is available here.
— Read Where Did the Young Life Insurance Applicants Go?, on ThinkAdvisor.