Life Insurance Activity Turns Positive In November

Braintree, MA. (December 6, 2017) —U.S. individually underwritten life insurance activity turned positive in November with the MIB Life Index composite up 1.2%, year-over-year. The composite’s jump was largely driven by application activity in the 0-44 age group (> 56% of the Index by volume) with November showing the largest percent gain of the year, up 2.3%, year-over-year. Showing modest recovery after Q1 YTD losses (-4.5%), the composite Index remains off -2.0% YTD November. Brisk, late year month-to-month activity has supported the composite’s rise throughout with August/September up 3.7%, Sept./October up 5.9%, and Oct./November up 8.6%. Given the composite’s progressive gains and producers' usual year-end sales push, strength in December activity is anticipated.

U.S. life insurance application activity was mixed across three all age groups. Application activity in the younger ages showed nearly a full percentage point gain in November above its largest 2017 increase. Ages 0-44 were up 2.3%; ages 45-59 losses moderated to -1.0%; and ages 60+ turned positive, up 0.9% compared to same month last year. Despite November’s strength, year-to-date percentages remained negative with ages 0-44 off -0.8% YTD, ages 45-59 off -4.4% YTD, and ages 60+ off -1.9%.