BRAINTREE, Mass., July 11, 2012 /PRNewswire/ -- U.S. application activity for individually underwritten life insurance increased +2.1% in June, all ages combined year-over-year, according to the MIB Life Index. The Index has posted positive numbers in 8 of the last 9 months, however quarterly numbers show easing growth — up +1.3% Q2 2012/2011, up +4.2% Q1 2012/2011. In the first half of the year, the MIB Life Index is up +2.8% year-to-date (YTD), compared to the same six months last year. June's numbers were up +2.2% from those of May, a strong posting versus historical numbers for this time period.
U.S. application activity grew across all three age groups for the second consecutive month: ages 0-44, up +2.0%; ages 45-59, up +0.7%; and ages 60+, up +4.5%, year-over-year. Mid-year, ages 0-44 are up +1.9% YTD; ages 45-59 are up +2.0% YTD; and ages 60+are up +7.3% YTD versus same period last year.
Additional analytics and the MIB Life Index Annual Reports available with registration at: www.mibsolutions.com/regLI.
U.S. Monthly Percent Change (year-over-year)
U.S. Monthly Percent Change by Age (1)
0 - 44
U.S. Monthly Percent Change vs. Prior Month
(1) Due to a data reporting anomaly, a small change in the historical percent changes for ages 60+ and ages 0-44 for the monthly periods April 2012 to January 2011 have been made. It should be noted that the restated values did not materially impact the stated trends for either age group. Download changes from the Enhanced Life Index Portal: http://www.mibsolutions.com/loginLI.
About the MIB Life IndexThe MIB Life Index is the life insurance industry's timeliest measure of application activity in the United States. Released to the media each month, the Index is based on the number of searches MIB life member company underwriters perform on the MIB Checking Service database. Since the vast majority of individually underwritten life premium dollars in North America include an MIB search as a routine underwriting requirement, the MIB Life Index provides a reasonable means to estimate new business activity. For past releases, methodology or to subscribe visit www.mib.com/lifeindex.
About MIB MIB is the life and health insurance industry's most trusted resource for risk information and analytical services. Owned by the industry it has served for more than a century, MIB is uniquely positioned to aggregate industry issues in order to develop products and services that help our members improve risk assessment. MIB, Inc. and MIB Solutions, Inc. are wholly-owned subsidiaries of the MIB Group, Inc. (www.mib.com and www.mibsolutions.com).
Contact:David O. AronsonMIB Group, Inc.781-751-6330 email@example.com
SOURCE MIB Group, Inc.