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December 06, 2017 at 01:31 AM
MIB Group Inc. has found a sign that U.S. individual life insurance sales could be starting to recover.
The Braintree, Massachusetts-based industry consortium says life insurance application activity for U.S. consumers of all ages was 1.2% higher in November than it was in November 2016.
Activity for consumers ages 45 to 59 fell 1%, year-over year.
But activity for consumers ages 60 and older rose 0.9%, and activity for consumers ages 0 to 44 rose 2.3%.
(Related: LIMRA Finds Drop in Q3 Life Sales)
In October, the overall MIB activity index fell 0.2%, year-over-year, but activity levels for people under 45 have improved most months since February.
“Producers’ usual year-end sales push” could lead to more activity gains in December, according to MIB analysts.
