Life Insurance Activity Climbs 5.3% in August

Braintree, MA.— Flexing its muscle over the past thirteen months theMIB Life Index showed continued strength in August with U.S. application activity for individually underwritten life insurance up +5.3% year-over-year, all ages combined. The past year plus for the Index is the longest period of monthly expansion ever seen, as it continues to modestly gain ground against years' lost. Year-to-date, the MIB Life Index is up +2.7% with growth in seven of the last eight months of 2015. August activity was up +2.6% from that of July.

For the first time this past April, monthly year-over-year growth in age 60+ applications was surpassed by application growth in ages 0-44. The trend break has been consistent with an increasing delta for the past five consecutive months. At the close of August, U.S. life insurance application activity ages 0-44 were up +7.0% year-over-year, up +3.6% YTD; applications ages 45-59 were up +3.3% year-over-year, up +1.0% YTD; and applications ages 60+ were up +3.5% year-over-year, up +2.5% YTD.

A MIB Life Index mid-year video report is available from www.mibgroup.com. Review all the industry trends on the Enhanced Life Index portal at http://ift.tt/1Kj82uO or register for free at http://ift.tt/1F4xi95.

 

Monthly Percent Change Composite Index  (year-over-year) Aug-15 5.3% Jul-15 4.0% Jun-5 2.0% May-15 2.7% YTD 2015 2.7% Q1 — 2015 1.5% Q2 — 2015 2.6%

2015 0-44 45-59 60+ Jan 5.7% 5.3% 6.3% Feb 1.9% 2.0% 4.2% Mar -4.5% -2.7% 1.4% Apr 5.9% -0.6% 0.6% May 4.3% 0.5% 1.6% Jun 3.7% 0.4% 0.8% Jul 6.5% 0.9% 1.8% Aug 7.0% 3.3% 3.5%

 

U.S. Monthly Percent  Change vs Prior Month Aug-15 2.6%

 

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 http://ift.tt/1Kj82L2. 

About MIB
MIB is the life and health insurance industry’s most trusted resource for risk information and analytical services. Owned by the industry it has served for more than a century, MIB is uniquely positioned to aggregate industry insights in order to develop products and services for our members that improve their risk assessment. Its MIB Solutions, Inc. subsidiary is the life insurance industry’s first appointed statistical agent, and has cost-effectively performed numerous regulatory data calls for 80% of the insurers that will be subject to principles-based reserving. MIB, Inc. and MIB Solutions, Inc. are wholly-owned subsidiaries of the MIB Group, Inc. (www.mibgroup.com).

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