Older Consumers Keep Submitting More Life Applications: MIB
November 13, 2019 by Allison Bell
Consumers ages 60 and older continued to keep the U.S. life insurance market growing in October.
Individual life application activity was 1.4% higher last month than in October 2018, according to MIB Group Inc.
The year-over-year growth was down from 1.9% in September.
MIB is a Braintree, Massachusetts-based consortium that helps U.S. and Canadian life insurers share information for underwriting purposes.
MIB bases the monthly life application activity index on the number of applications life insurers put through MIB systems.