MIB Life Index: U.S. Life Insurance Activity Up 2.3% In Feb.
March 18, 2015 by N/A
Braintree, MA. (March 13, 2015) — Application activity for individually underwritten life insurance increased +2.3% in February, year-over-year, all ages combined, according to the MIB Life Index. This is the fourth consecutive month of year-over-year growth in the plus 2 to 5% range, firmly establishing a trend of increased application activity that started with soft growth last July-August (under 1%). For the first two months of the year, the MIB Life Index is up +4.1% YTD. February’s application activity was up +5.9% from that of January, a moderate increase when compared to prior years’ increases for this time period.
February was the fourth consecutive month of growth across all age groups, albeit somewhat diminished from January’s pace: ages 0-44, up +1.9%; ages 45-59, up +2.0%; and ages 60+, up +4.2%; year-over-year. Year-to-date February, ages 0-44 are up +3.9%; ages 45-59 are up +3.7%; and ages 60+, up +5.3%; year-over-year. Overall, as the U.S. economy continues to improve, life insurance sales appear to be riding that trend.
