Life Insurance Activity Leveled In April

Braintree, MA. (June 8, 2017) —U.S. individually underwritten life insurance activity remained sluggish in May with the MIB Life Index composite down -2.0%, year-over-year. After five consecutive months of declining activity in 2017, the MIB Life Index is off -3.3% YTD. In relative terms, the May 2017 composite Life Index value (95.92) is .60 higher than that seen in May 2015 (95.32), the Index’s most recent expansionary period. May application activity was -8.3% off pace from April 2017 levels, but on par with seasonal norms.

U.S. life insurance application activity in May declined across ages 45 and higher and was flat across ages 0-44. Ages 0-44 was 0.0%, ages 45-59 was down -5.2%, and ages 60+ was down -2.8%, as compared to same month last year. With the first five months of 2017 behind us, application activity ages 0-44 are down –2.6% YTD, ages 45-59 are down -5.5% YTD, and application activity in ages 60+ are down -1.7% YTD. May’s results showed a very slight improvement in the YTD percent change for ages 0-44, while ages 60+ YTD worsened slightly. Ages 45-59 continue to account for the lion’s share of 2017 YTD declines.