U.S. life insurance application activity looked pretty good in January — but prospects ages 45 through 59 were scarce.
MIB Group Inc. has published data on life application activity in a new summary of the usage statistics for its own life insurance application checking system.
- A link to the latest MIB activity report is available here.
- An earlier article about MIB activity data is available here.
MIB is a Braintree, Massachusetts-based organization that gives life insurers a vehicle for sharing underwriting data.
The overall level of application checking activity increased 2.5% between January 2019 and this past January, after falling 3.3% between December 2018 and December 2019.
For most of the past few years, MIB application activity levels have strongest for applicants ages 60 and older, and weakest for applicants under age 45.
In January, the picture was different: Application activity was strong for applicants ages 60 and older, but activity for applicants under age 45 was stronger than activity for applicants in the middle age group.
Here are the group-by-group statistics for January:
- Ages 0-44: +3.4%
- Ages 45-59: +0.1%
- Ages 60 and older: +3.4%
— Read Where Did the Young Life Insurance Applicants Go?, on ThinkAdvisor.