Life Insurance Growth Trend Moderates In April

Braintree, MA. (May 9, 2016) — The growth trend in U.S. application activity for individually underwritten life insurance showed signs of restraint in April, up 1.0% year-over-year, all ages combined, according to the MIB Life Index. With only one exception, April’s results mark nearly two-years’ expansion for the composite MIB Life Index. Once again, life insurance application activity ages 0-44 continued to lead the pack. April’s activity was off -6.9% from that of March, consistent with seasonal trends for this time period.

For the first time since September 2015, application activity was mixed across the age groups. Ages 0-44 applications remained positive up 2.6%, ages 45-59 were off -0.8%, and ages 60+ were off -0.6%, year-over-year. Younger age applicants (ages 0-44), the largest component of the MIB Life Index, has led all other age groups for a year—a marked shift away from a market previously dominated by older age consumers. Year-to-date, life insurance applications ages 0-44 are up 5.8%, ages 45-59 are up 2.4% and ages 60+ are up 2.5% as compared to the prior year.

Monthly Percent Change Composite Index (year-over-year)  Apr-16 1.0% Mar-16 4.9% Feb-16 4.6% Jan-16 6.4% Q1 - 2016 5.4% Q4 - 2015 3.2% YTD - 2016 4.3%   U.S. Monthly Percent Change vs Prior Month   Apr-16   -6.9%

2015-2016  0-44 45-59 60+ Apr - 15 5.9% -0.6% 0.6% May 4.3% 0.5% 1.6% Jun 3.7% -0.4% 0.8% Jul 6.5% 0.9% 1.8% Aug 7.0% 3.3% 3.5% Sep 2.8% -0.5% 1.2% Oct 5.6% 0.7% 1.2% Nov 3.8% 0.2% 3.1% Dec - 15 4.5% 0.1% 2.0% Jan 8.4% 4.4% 3.9% Feb 5.8% 2.9% 3.8% Mar 6.5% 3.1% 2.9% Apr - 16 2.6% -0.8% -0.6%