Application activity for US individually underwritten life insurance was up 6.4% in January year-on-year, all ages combined, according to the MIB Life Index, a measure of life insurance application activity in the US.
January’s results follows six straight quarters of expansion for the composite Index as growth accelerated with the underwriting of year-end sales activity.
Composite application activity in January outpaced that of the prior December by 5%. It was the largest month-over-month percent gain for this time period since the Index started in 2001.
The MIB Life index said US insurance application activity was once again led by ages 0-44, which far outpaced all other demographics.
Application activity ages 0-44 was up 8.4%, ages 45-59 was up 4.4%, and ages 60+ was up 3.9%, year-on year. It noted that January 2016 marked the start of the sixth consecutive quarter of solid growth for the 0-44 age group as insurers’ sales and marketing investments continue to reach younger age purchasers.
The MIB Life Index is based on the number of searches MIB life member company underwriters perform on the MIB Checking Service database.