What You Need to Know
- Application counts were up for all types of products MIB tracks.
- Activity was up for people in all age groups for policies with small death benefits.
- Products that provide more death benefits per premium dollar did especially well.
More Americans applied in February to get themselves covered against the risk of death.
Overall life insurance application activity was 7.3% higher last month than in February 2020, according to MIB Group Inc.’s latest individual life application activity report.
In January, life application activity was up 3.9% from a year earlier.
MIB is a Braintree, Massachusetts-based group that helps life insurers share data used in the life insurance underwriting process. Its application activity figures reflect the number of life insurance applications flowing through MIB systems.