Strong demand from consumers ages 45 and older is continuing to act as chicken soup for the U.S. life insurance market.
Overall application activity was 1.9% higher in September than in September 2018, according to new activity data from MIB Group Inc.
(Related: Life Activity Rises: MIB)
The increase for September follows a 0.5% year-over-year increase in August.
In July, sales sank 3.2%.
The MIB Activity Index
MIB is a nonprofit organization that helps the member U.S. and Canadian life insurers exchange some of the information used to verify insurance policy applications that go through a medical underwriting process.
MIB bases its life application activity index on how often life insurers use its databases to check applications.
U.S. baby boomers were born from 1946 through 1964, with the oldest boomers turning 73 this year, and the youngest turning 55.