Nationwide application activity for individually underwritten life insurance increased 1.2 percent year-over-year in January, the sixth consecutive monthly increase and the longest sustained trend of national increases on record, according to Braintree insurance activity tracker The MIB Life Index.
Application activity month to month from December 2009 to January remained flat with a 0.1 percent gain.
Life insurance application growth was driven primarily by demand in the 60-year-old and up age group, which saw a 15.2 percent bump in activity year-over-year. It was the segment’s tenth consecutive month of year-over-year, double-digit growth.
Application activity among those aged from 0 to 44 years old was down 2.5 percent, but up 2.5 percent for 45 to 59 year olds.
The MIB Life Index is based on the number of searches life member company underwriters perform on the MIB Checking Service database, the company said. The majority of individually underwritten life premium dollars in North America include an MIB search as a routine underwriting requirement.





