BRAINTREE, Mass., July 7 /PRNewswire/ — U.S. application activity for individually underwritten life insurance declined -3.9% in June year-over-year, all ages combined, according to the MIB Life Index(SM). June’s decline was the largest year-over-year drop in U.S. application volume since March 2009. Overall, the U.S. Life Index experienced alternating monthly gains and losses over the first two quarters of the year resulting in application activity being off fractionally at June’s close, down -0.2% YTD. June’s activity was off -1.4% from May levels; declines are atypical for this time period.
The U.S. MIB Life Index by age group for June showed ages 0-44, off -7.2%; ages 45-59, off -3.1%; and ages 60+, up +8.1% year-over-year. After growth in ten of the last twelve months, ages 45-59 had its largest year-over-year percentage decline since May 2009. Activity in the 60+ age group has paused from double digit growth to single digit for the first time since March 2009.
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