U.S. life insurance application activity ended Q1-2025 flat at +0.8% Year-to-Date (YTD), with activity in March up +2.9% Year-over-Year (YOY). When comparing activity through Q1-2025 YTD to prior years, activity was flat at +1.1% compared to 2023 and was up +6.0% compared to 2022. Additionally, activity for Q1-2025 was up +12.1% compared to the previous quarter (Q4-2024), representing the highest Q1 increase over Q4 on record.

March 2025 saw YOY growth for ages 31-50 and ages 61+, in the double digits for ages 71+, while ages 0-30 and 51-60 saw flat activity. When comparing Q1-2025 to Q1-2024, activity for ages 0-30 was up +2.0%, ages 31-50 flat at +0.3%, ages 51-60 down -3.7%, ages 61-70 flat at +1.4%, and ages 71+ up +12.0%. When comparing Q1-2025 to the previous quarter (Q4-2024), all age bands saws growth, in the double digits for ages 0-30 and 61+.

Based on data reported to MIB by our members, March 2025 saw YOY growth for all face amounts, in the double digits for amounts over $250K up to and including $2.5M and over $5M, and in the triple digits for amounts over $2.5M up to and including $5M. When comparing Q1-2025 to Q1-2024, we also saw YOY growth for all face amounts, in the double digits for amounts over $250K. When including age bands comparing Q1-2025 to Q1-2024, ages 0-60 saw growth for all face amounts, in the double digits for amounts over $250K. Ages 61+ saw double-digit growth for all face amounts.

Term Life saw double-digit YOY growth in March, Whole Life saw growth and Universal Life saw declines. Term Life was up +20.0%, Whole Life up +2.7%, and Universal life declined -8.7%. Additionally, when comparing Q1-2025 to Q1-2024, Term saw double-digit growth, Whole Life saw flat activity, and Universal Life showed double-digit declines. Term Life saw growth of +14.6%, Whole Life was flat at -0.3%, and Universal Life saw declines of -16.3%. When including age bands and comparing Q1-2025 to Q1-2024, Term Life saw double-digit growth for all age bands. Whole Life saw double-digit growth for ages 71+, flat activity for ages 0-30 and 61-70, and declines for ages 31-60, in the double digits for ages 51-60. Universal Life saw declines for all age bands, in the double digit for ages 31+.

Note: All analysis is based on data as reported to MIB by our members.