Life Application Activity Drops Again in July: MIB.
Byline: Allison Bell
MIB Group Inc. says U.S. individual life insurance application activity was 2.6% lower in July than it was in July 2016.
(Related: Life Application Activity Drops Again in June: MIB)
The Braintree, Massachusetts-based organization says activity fell 0.4% for consumers ages 0 to 44, and 4.5% for consumers ages 60 and older.
Activity dropped 5.7% for consumers ages 45 to 49.
Life insurers use MIB systems to verify the information consumers give on more than 90% of life insurance applications submitted in the United States and Canada.
The drop in MIB activity occurred in spite of reports of strong sales of indexed universal life insurance.
--- Read Life Insurers Face Steep Q1 Activity Drop: MIB on ThinkAdvisor.