Consumers ages 60 and older continued to keep the U.S. life insurance market growing in October.
Individual life application activity was 1.4% higher last month than in October 2018, according to MIB Group Inc.
The year-over-year growth was down from 1.9% in September.
MIB is a Braintree, Massachusetts-based consortium that helps U.S. and Canadian life insurers share information for underwriting purposes.
MIB bases the monthly life application activity index on the number of applications life insurers put through MIB systems.
Activity by Age Group
MIB breaks out application activity data for people in three age groups: applicants ages 0 to 44; applicants ages 45 through 59; and applicants ages 60 and older.