Life insurance applications rise 15.2% in September, MIB reports

Q3 application activity was up 15.9%, with growth strongest among older applicants

By Staff Reports

Life insurance application activity rose 15.2% in September from a year earlier, marking the strongest growth ever recorded for the month, according to the MIB Life Index.

The September data extended a strong run for life insurance applications in 2026. Through the first nine months, activity was up 15.6% from the same period in 2025 and was 20.9% higher than in 2024 and 22% higher than in 2023.

On a month-over-month basis, application activity increased 5.6% in September from August.

Older applicants lead the way

The growth in life applications was particularly pronounced among older applicants. Activity declined 1.3% among applicants ages 0-29 and rose 3.4% among those 30-39.

Growth reached double digits among every age group 40 and older, rising 12.3% among ages 40-49, 21.5% among ages 50-59, 31.8% among ages 60-69 and 50.1% among applicants 70 and older.

The pattern was similar for the full third quarter. Activity was flat among applicants ages 0-29 and rose 3.6% among those 30-39. Growth reached 12.1% among ages 40-49, 21.7% among ages 50-59, 32.9% among ages 60-69 and 52.5% among applicants 70 and older.

Through September, activity was up 0.4% among applicants ages 0-29 and 5.5% among those 30-39. Growth reached double digits among every age group 40 and older, led by a 48.3% increase among applicants 70 and older.

Application activity was flat in September for face amounts from $250,000 to less than $1 million and increased for all other face-amount categories.

Double-digit growth was recorded for amounts from $1 to less than $250,000 and from $1 million to less than $5 million.

In the third quarter, all face-amount categories posted growth from the same quarter in 2025, including double-digit increases for amounts from $1 to less than $250,000 and from $1 million to less than $5 million.

Through September, all face-amount categories recorded growth. Applications increased at double-digit rates for amounts from $1 to less than $250,000 and from $500,000 to less than $2.5 million, while amounts from $2.5 million to less than $5 million increased at a triple-digit rate.

The relationship between age and face amount produced a more mixed picture in the third quarter.

Among applicants ages 0-29, applications grew for amounts of $1 million and higher, with double-digit gains for amounts of $2.5 million and higher. Activity was flat for some mid-range amounts and declined in other categories.

Applicants ages 30-39 recorded growth for amounts from $100,000 to less than $250,000 and $1 million and higher, with double-digit growth for amounts of $2.5 million and higher.

Applications increased across every face-amount category for applicants ages 40-49, with double-digit growth for amounts from $100,000 to less than $250,000 and from $1 million to less than $5 million.

Applicants ages 50-59 recorded double-digit growth for amounts below $500,000 and from $1 million to less than $5 million. Activity declined for amounts from $500,000 to less than $1 million.

Applicants ages 60-69 recorded growth across all face amounts, including triple-digit growth for amounts from $1 million to less than $2.5 million.

Applicants 70 and older also posted growth across every face-amount category, with double-digit gains for amounts below $500,000 and from $2.5 million to less than $5 million.

Term and whole life applications grow

Term life applications increased 23.2% from a year earlier in September, while whole life applications rose 22.2%. Universal life applications increased 1.1%.

The third-quarter results were similar. Term life applications increased 23.6%, whole life rose 22.2% and universal life increased 4.5%.

Through September, term life applications were up 26.2% from a year earlier. Whole life applications increased 23%, while universal life rose 13.4%.

Term life recorded double-digit growth across every age group in the third quarter. Whole life and universal life both recorded growth among applicants ages 40 and older, with double-digit increases among those 50 and older. Both products declined among applicants under 40.

MIB revised its methodology for 2026 to refine its age and face-amount categories and more precisely identify new-business application activity. Historical 2026 data was restated using the revised methodology.