U.S. life insurance application activity increased in February for consumers in all three age groups MIB Group Inc. tracks.
The Braintree, Massachusetts-based group says the overall application activity rate was 5.6% higher last month than in February 2019.
- A link to the latest MIB activity report is available here.
- An earlier article about MIB activity data is available here.
Life insurers use MIB databases to check the information that consumers put in life insurance applications.
MIB bases its life insurance activity index figures on the utilization rates for its own services.
The MIB life activity index increased 2.5%, year-over-year, in January, after increasing just 0.4% in 2019.
For most of the past few years, MIB application activity levels have been strongest for applicants ages 60 and older, and weakest for applicants under age 45.
For a breakdown of the latest MIB application activity figures by age, see the data cards in the slideshow above. (Wiggle your pointer over the first slide to see the slideshow control arrows.)
— Read Where Did the Young Life Insurance Applicants Go?, on ThinkAdvisor.