U.S. life insurance application activity increased in August, after falling sharply in July, according to new activity data from MIB Group Inc.
In August, MIB says, overall activity was 0.5% higher than in August 2018.
(Related: Life Activity Slumps: MIB)
That compares with a year-over-year decrease of 3.2% in July, and a year-over-year decrease of 0.2% for the period from January through August.
MIB’s Activity Index
Life insurers created MIB to serve as a vehicle for sharing some of the information used to check applications for life insurance and related products.
The MIB life application activity index is based on the number of applications MIB systems check every month.