U.S. Life Insurance Activity Reverses in July Reports the MIB Life Index
August 14, 2019 by MIB Life Index
Braintree, MA. (August 8, 2019) — U.S. life insurance application activity reversed direction in July displacing virtually all of the prior June’s gains, down -3.2% Y/Y, according to the MIB Life Index. The 2019 MIB Life Index reflects a zigzag pattern that included five months of small gains peppered by two months of sharp declines, keeping the Life Index consistently hovering near par at -0.3% YTD. July’s application activity was down -7.8% from that of June, sharply steeper than typical July summer declines.
Older age life insurance buyers have outpaced all Life Index age groups posting Y/Y gains in every month since May 2018. In July, application activity ages 0-44 was off -6.9%, ages 45-59 was off -3.4%, and ages 60+ was up 7.2% Y/Y. On a YTD basis, all ages groups lost ground from last month with application activity ages 0-44 off -4.9%; ages 45-59 remaining positive for the year, up 0.5%; and ages 60+ down slightly at 12% YTD July.
Review our “2019 At-the-Half” video and our 2018 Year-end video wrap up. Login to the Enhanced Life Index Portal to download the 2018 MIB Life Index Annual Report at no charge or register to view at: www.mibsolutions.com/regLI.
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