Life Insurance Activity Continues To Improve In October

Braintree, MA. (November 10, 2017) —U.S. individually underwritten life insurance activity improved slightly in October with the MIB Life Index composite close to par, off -0.2%, year-over-year. The Index has shown steady improvement since Q1 2017’s sharp -4.5% decline but continues to remain sluggish with very modest year-over-year monthly gains. Year-to-date, the MIB Life Index is off -2.4%, showing slight improvement from September’s -2.6% value. Month-to-month activity continues to be brisk with October up 5.9% over September. September 2017 application activity was up 3.7% when compared to that of August.

U.S. life insurance application activity was mixed across three all age groups with younger age application activity dominant. Ages 0-44 were up 1.4%, ages 45-59 once again showed the sharpest declines at -2.6%, and ages 60+ were off -1.7% compared to same month last year. October marked the third consecutive month of growth in younger age life insurance applicants. Year-to-date, application activity improved in October with ages 0-44 off -1.2% YTD, ages 45-59 off -4.8% YTD, and ages 60+ off -2.2%.

About the MIB Life Index
The 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.