Life Insurance Activity Up 2.7% In November

Braintree, MA. (November 11, 2015) — Application activity for U.S. individually underwritten life insurance was up +2.7% in November year-over-year, all ages combined, according to the MIB Life Index. With March 2015 the only exception, this marks the sixteenth month of expansion for the Index. At November’s close, the MIB Life Index was up +2.7% year-to-date. November’s activity outpaced that of October by +9.7% as insurers build sales momentum toward year-end. 

For the eighth consecutive month, U.S. life insurance applications were led by the 0-44 age group, up +3.8% in November over prior year. As the largest component of the composite Index, the 0-44 monthly Index value is at its highest level seen since the 2008-2009 period; up +3.8% YTD. November applications ages 45-59 were flat at +0.2%; up +0.8% YTD, and activity for ages 60+ was up +3.1%; up +2.3% YTD.

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Monthly Percent Change Composite Index  (year-over-year) Nov-15 2.7% Oct-15 3.5% Sep-15 1.5% YTD 2015 2.7% Q1 — 2015 1.5% Q2 — 2015 2.6% Q3 — 2015 2.1%   U.S. Monthly Percent  Change vs Prior Month Nov-15 9.7%

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% Sep 2.8% -0.5% 1.2% Oct 5.6% 0.7% 1.2% Nov 3.8% 0.2% 3.1% 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.

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