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MIB says U.S. life insurance application activity was down in September and in the third quarter. I blame LIAM spokesperson Danica Patrick. Couldn’t she at least have won a race in September?
From MIB:
BRAINTREE, Mass., Oct. 12, 2016 – After two consecutive monthly declines, U.S. application activity for individually underwritten life insurance fell in the third quarter by -0.6% year over year, according to the MIB Life Index. On the heels of eight consecutive quarters of growth, the Life Index first showed evidence of slowing momentum in the second quarter of 2016.
Notwithstanding, the MIB Life Index remains up 2.2% YTD, compared to the same nine months in 2015. For the month, the Life Index declined -2.3% compared to September 2015. Showing seasonal growth for this time period, September application activity was 2.8% higher than that of August. Long term trends show the cumulative composite index value Jan.-Sep. 2016 (81.9) on par with levels seen Jan.-Sep. 2012 (81.4).
U.S. life insurance application activity lost ground across all three age groups, with application activity in the older ages faring better than most. Ages 0-44 was off -2.6%, ages 45-59 was off -2.8%, and ages 60+ was off -0.7%, year-over-year. At the close of the third quarter, application activity ages 0-44 leads all others, up 3.0%, ages 45-59 are up 0.5%, and ages 60+ are up 2.0%, compared to the same nine months last year. Continued erosion in 2016 could put the middle age group underwater by year-end.
From MIB:
BRAINTREE, Mass., Oct. 12, 2016 – After two consecutive monthly declines, U.S. application activity for individually underwritten life insurance fell in the third quarter by -0.6% year over year, according to the MIB Life Index. On the heels of eight consecutive quarters of growth, the Life Index first showed evidence of slowing momentum in the second quarter of 2016.
Notwithstanding, the MIB Life Index remains up 2.2% YTD, compared to the same nine months in 2015. For the month, the Life Index declined -2.3% compared to September 2015. Showing seasonal growth for this time period, September application activity was 2.8% higher than that of August. Long term trends show the cumulative composite index value Jan.-Sep. 2016 (81.9) on par with levels seen Jan.-Sep. 2012 (81.4).
U.S. life insurance application activity lost ground across all three age groups, with application activity in the older ages faring better than most. Ages 0-44 was off -2.6%, ages 45-59 was off -2.8%, and ages 60+ was off -0.7%, year-over-year. At the close of the third quarter, application activity ages 0-44 leads all others, up 3.0%, ages 45-59 are up 0.5%, and ages 60+ are up 2.0%, compared to the same nine months last year. Continued erosion in 2016 could put the middle age group underwater by year-end.
