BRAINTREE, Mass., Nov. 11 /PRNewswire/ -- North American application activity for individually underwritten life insurance was down -1.8% in October year-over-year, according to the MIB Life Index(SM). Year to date (YTD) U.S. and Canadian activity remained stable off -1.9%, compared to the same ten months last year. October activity was up +2.5% over September 2008, in a range consistent for this period.
U.S. application activity declined -2.3% in October year-over-year, all ages combined. Consistent with past trends, age groups 0-44 and 45-59 were off -3.7% and -1.3%, respectively, with the 60+ age group up +3.2% year-over-year. At the close of October, YTD U.S. application activity remained stable at -2.4%, compared to the same ten months last year.
Canadian application activity grew slightly in October up +1.1%
year-over-year, all ages combined. Activity by age group was contrary to
U.S. results: 0-44 and 45-59 were up +1.7% and +1.2% respectively, with the
60+ age group off -3.0% year-over-year. Year to date, Canadian application
activity remained stable at +1.8%, compared to the same ten months last
Monthly Percent Change vs. 2007
U.S. Canada Total
October 2008 -2.3% +1.1% -1.8%
September 2008 -4.4% +0.5% -3.8%
YTD 2008 -2.4% +1.8% -1.9%
Monthly Percent Change vs. Previous Month
U.S. Canada Total
October 2008 +3.0% -0.6% +2.5%
About the MIB Life Index
The MIB Life Index is the life insurance industry's timeliest measure
of application activity across the U.S. and Canada. Released to the media
each month, the Index is based on the number of searches life member
company underwriters perform on the MIB Checking Service database. Since
the vast majority of individually unde
|SOURCE MIB Group, Inc.|
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