U.S. Life Insurance Activity Continues Upward in October Reports the MIB Life Index

Braintree, MA. (November 6, 2019) — U.S. life insurance application activity increased for the third consecutive month, up 1.4% in October Y/Y according to the MIB Life Index. Older age application activity continues to drive the market as the October MIB Life Index composite peeks above par value for the first time since June, up 0.2% YTD.  Relative to October 2017 YTD, the October 2019 YTD is -0.3% off that pace. October’s application activity was up 2.9% from September, showing slower growth than in previous years.
Life Index Chart
Older age life insurance buyers (ages 60+) outpaced all other Life Index age groups but showed sign of slowing, up 6.9% in October Y/Y; posting consecutive gains for 18 months. Ages 45-59 were up 0.9% in October; posting gains in 8 of the last 10 months. Application activity ages 0-44 slowed its downward trend, off -0.4% Y/Y October; posting losses in every month of 2019. YTD application activity is down -3.9% for ages 0-44; ages 45-59 stayed level with last month, up 0.7%; and ages 60+ dropped slightly from last month but remained up 11.3% YTD October.

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.


Monthly Percent Change
Composite Index
(year-over-year)

Oct-19 1.4%
Sep-19 1.9%
Aug-19 0.5%
Jul-19 -3.2%
Jun-19 3.3%
May-19 1.1%
Apr-19 0.1%
Mar-19 -4.9%
Feb-19 0.4%
Jan-19 2.1%
   
YTD - 2019
-0.0%
YTD - 2018
-1.1%
Q3-2019
-0.3%
Q2-2019
1.5%
Q1-2019
-1.0%



U.S. Monthly Percent
Change
vs Prior Month


October

2.9%


% Change
Age Groups
(year-over-year)




0-44



45-59



60+
Oct-19
-0.4%
0.9%
6.9%
Sep-19
-2.2%
2.7%
12.5%
Aug-19
-2.9%
0.1%
10.4%
Jul-19
-6.9%
-3.4%
7.2%
Jun-19
-1.3%
4.1%
15.6%
May-19
-2.8%
0.5%
13.3%
Apr-19
-4.0%
1.3%
10.8%
Mar-19
-9.1%
-4.5%
7.6%
Feb-19
-4.4%
1.9%
12.5%
Jan-19
-4.4%
4.6%
18.2%
YTD 2019
-4.4%
0.7%
11.9%





Monthly Percent Change
Composite Index
(year-over-year)

Oct-19 1.4%
Sep-19 1.9%
Aug-19 0.5%
Jul-19 -3.2%
Jun-19 3.3%
May-19 1.1%
Apr-19 0.1%
Mar-19 -4.9%
Feb-19 0.4%
Jan-19 2.1%
   
YTD - 2019
YTD - 2018
0.2%
-1.1%
Q3 - 2019 -0.3%
Q2 - 2019 1.5%
Q1 - 2019 -1.0%

 


U.S. Monthly Percent
Change
vs Prior Month


October

2.9%

% Change
Age Groups
(year-over-year)




0-44



45-59



60+
Oct - 19
-0.4%
0.9%
6.9%
Sep - 19
-2.2%
2.7%
12.5%
Aug - 19
-2.9%
0.1%
10.4%
Jul - 19
-6.9%
-3.4%
7.2%
Jun - 19
-1.3%
4.1%
15.6%
May - 19
-2.8%
0.5%
13.3%
Apr - 19
-4.0%
1.3%
10.8%
Mar - 19
-9.1%
-4.5%
7.6%
Feb - 19
-4.4%
1.9%
12.5%
Jan - 19
-4.4%
4.6%
18.2%
YTD 2019
-3.9%
0.7%
11.3%

 

 

 

 

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