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Individual Life Applications Climb for One Age Group: MIB

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A seesawing line chart. The newest number, for January, is above zero, but lower than the number for December. (Image: MIB)

Overall U.S. individual life insurance application activity increased at a modest rate in January — but activity volume trends varied by age group.

MIB Group Inc. says overall U.S. individual life application activity was 3.9% higher in January than in January 2020.

That’s down from an 8.5% year-over-year increase between December 2019 and December 2020.

But application activity for a core age group — consumers ages 31 to 50 — looked much stronger than activity for younger and older consumers.


MIB told the story about February in a new monthly U.S. individual life application activity report.

MIB is a life insurer-owned, Braintree, Massachusetts-based organization that helps life insurers share some of the information used in life insurance underwriting. The group bases its monthly application activity reports on the number of applications sent through its checking systems.

MIB gives the participating life insurers detailed activity reports. The group also publishes summary reports.

In the past, MIB’s public summary showed life activity data broken down by three age groups: 0 to 44 years; 45 years to 69 years; and 60 years and older.

Now, MIB is reporting data for five separate age groups: 0 to 30 years; 31 years to 50 years; 51 years to 60 years; 61 years to 70 years; and 71 years and older.

Here they are the numbers for January:

  • Ages 0-30: Up 3.7%
  • Ages 31-50: Up 8.5%
  • Ages 51-60: Up 2.9%
  • Ages 61-70: Down 1.8%
  • Ages 71 and older: Down 11%

MIB  also has changed the way it calculates its life application activity index figures. The monthly index figures in summary reports now are not directly comparable to the monthly figures MIB put in summary reports before 2021.

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