Braintree, MA. — U.S. life insurance application activity was off in April down – 2.1% 1 year-over-year, according to the MIB Life Index. Just as March results were inflated by the inclusion of Good Friday (one less business day), April’s results were artificially low by its exclusion (one more business day); April’s composite was up 2.8% on an adjusted basis. April’s application activity was down -9.5% (unadjusted) from activity in March (-4.9% adjusted).
April’s unadjusted percent changes saw declines in U.S. life insurance application activity across all age groups. Application activity ages 0-44 was off -2.3%, activity ages 45-59 was off -2.5%, and activity ages 60+ was off slightly at -0.6%. On an adjusted basis, application activity ages 0-44 was up 2.5%, activity ages 45-59 was up 2.4%, and activity ages 60+ was up a healthy 4.4%. Year-to-date, application activity ages 0-44 age group is off -0.2%, activity ages 45-59 is off -1.5%, and activity ages 60+ is flat at 0.0% (unadjusted basis). Year-to-date, application activity ages 0-44 age group is up 1.0%, activity ages 45-59 is off -0.3%, and activity ages 60+ is up 1.3% (adjusted basis).
MIB's CEO comments on the 2017 industry in our MIB Life Index Year-in-Review video (http://wi.st/2CejeJq). Download the 2017 MIB Life Index Annual Report at no charge by registering at the Enhanced Life Index Portal: www.mibsolutions.com/regLI or login at: https://portal.mibsolutions.com/lifeindex.
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