Older Consumers Keep Submitting More Life Applications: MIB

November 13, 2019 by Allison Bell

Consumers ages 60 and older continued to keep the U.S. life insurance market growing in October.

Individual life application activity was 1.4% higher last month than in October 2018, according to MIB Group Inc.

The year-over-year growth was down from 1.9% in September.

The Index

MIB is a Braintree, Massachusetts-based consortium that helps U.S. and Canadian life insurers share information for underwriting purposes.

MIB bases the monthly life application activity index on the number of applications life insurers put through MIB systems.

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Originally Posted at ThinkAdvisor on November 7, 2019 by Allison Bell.