MIB life index rises 4.2 percent in March

U.S. application activity for individually underwritten life insurance rebounded in March from declines recorded in February and January, jumping 4.2percent over the year-ago period, according to a new report.

MIB Group Inc. published this finding in a summary of results from the latest release of the MIB Life Index. Published monthly, the industry gauge of U.S. application activity is based on the number of searches MIB life member company underwriters perform on the MIB Checking Service database.

The March gain stands in stark contrast to February and January, when the MIB index fell 4.5 percent and 2.3 percent, respectively, year-over-year. Including March, the index registered a first quarter decline of 1 percent.

U.S. application activity was highest for individuals over age 60, rising 5.6 percent in March over the year-ago period. This compares with year-over-year declines of 3.3 percent and 2.6 percent for this age group, in February and January, respectively, the research shows.

The MIB index recorded the second highest gain in the 0-44 age group, as year-over-year application activity inched up 5.2 percent. In contrast, the index posted year-over-year declines of 3.9 percent and 1.7 percent in February and January, respectively, for this age group.

The rise in U.S. application activity was lowest among adults ages 45-59, the index recording only a 1.5 percent rise for this age group over March of 2012. The increase was, however, a significant improvement from February and January, when application activity fell 6.2 percent and 3.2 percent, respectively, over the year-ago periods.

A MIB Group press statement attributes the March gains to "pent-up demand from the winter months."

Related Life Products Resources

Powered by

  • GUL vs. IUL: Help your clients make an informed decision.

    Join Charlie Gipple on June 24th at 2:00 EST as he walks you through the trade-offs of the premium cost, no-lapse guarantee and the potential for cash value growth between Guarantee Universal Life (GUL) and Index Universal Life (IUL) Insurance.

  • Complimentary Life Insurance Brochure and Case Study

    Help your clients learn how life insurance can provide strong death benefit protection and make a dramatic impact on their retirement plans in today’s unstable market. Download “Smooth Sailing on Uncertain Waters" now.


Advertisement. Closing in 15 seconds.