Older Consumers Keep Submitting More Life Applications: MIB

Activity by Age Group

MIB breaks out application activity data for people in three age groups: applicants ages 0 to 44; applicants ages 45 through 59; and applicants ages 60 and older.

From January through September, activity levels have been strongest for consumers ages 60 and older, and weakest for consumers ages 0 to 44. That trend continued in October.

Here's how October life application activity looked when broken out by age group:

• Ages 0-44: Down 0.4%
• Ages 45-59: 0.9%
• Ages 60 and older: 6.9%

Although the growth rate for consumers ages 60 and older was strong in October, the 6.9% increase was down from a year-over-year increase of 12.5% in September.

The 0.4% drop for applicants under 45 was much narrower than the 2.2% year-over-year drop for that age group in September.

Resources

A copy of the latest MIB life activity update is available here.

— Read Where Did the Young Life Insurance Applicants Go?, on ThinkAdvisor.

— Connect with ThinkAdvisor Life/Health on Facebook, LinkedIn and Twitter.