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.