U.S. Life Insurance Activity Static in August Reports the MIB Life Index

Braintree, MA. (September 11, 2018) — U.S. life insurance application activity held its own in the dog days of summer, flat at -0.1% year-over-year, according to the MIB Life Index. Once again application activity ages 60+ outshined all other age groups—positive for four consecutive months and showing lesser declines in months where losses occurred. August results left the composite index YTD unchanged at -0.2%. August's application activity was off just -0.5% from that of the prior July period showing typical seasonality.  Life Index Graphic Relatively speaking, the industry is doing far better in August 2018/2017 YTD (-0.2%) than it did in the same eight month period in 2017/2016 YTD (-2.9%).

August's U.S. application activity showed year-over-year gains in two out of three age groups—ages 45-59 up 0.6%, and ages 60+ up 4.4%. After solidly leading all other age groups in 2017, application activity ages 0-44 continues to slide in 2018, off -1.9% in August. We will have to watch this trend carefully as life insurance application volumes increase in the fall and early winter. Year-to-date, ages 0-44 and ages 45-59 are off -0.6%, with ages 60+ up 1.4% YTD.

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1NOTE: March and April 2018 had one more and one less business day than usual, respectively due to Good Friday occurring in March this year instead of April. This anomaly caused March's Y/Y and YTD percent change to be artificially high, and similarly April's percent changes to be artificially low due to how business days impact the MIB Life Index calculations. Unadjusted percent changes appear here; the adjusted numbers for these months are published in their individual press releases: http://www.mibgroup.com/riskanalytics/archives.html.

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

Aug-18 -0.1%
Jul-18 0.8%
Jun-18 0.7%
May-18 -1.0%
Apr-18(1) -2.1%
Mar-18(1) 6.7%
Feb-18 -2.4%
Jan-18 -4.4%
2018 YTD
2017 YTD
2018/2017 Q2
-0.2%
-1.8%
-0.6%
2018/2017 Q1
0.0%
2017/2016 Q4
0.6%
2017/2016 Q3
-1.6%



U.S. Monthly Percent
Change
vs Prior Month


August

-0.5%


% Change
Age Groups
(year-over-year)




0-44



45-59



60+
Aug - 18
-1.9%
0.6%
4.4%
Jul - 18
-1.2%
2.1%
4.8%
Jun - 18
1.0%
-0.4%
1.6%
May - 18
-1.7%
-0.6%
0.4%
Apr - 18(1)
-2.3%
-2.5%
-0.6%
Mar - 18(1)
6.8%
6.4%
7.0%
Feb - 18
-1.8%
-3.5%
-2.7%
Jan - 18
-3.7%
-6.3%
-3.6%


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

Aug-18 -0.1%
Jul-18 0.8%
Jun-18 0.7%
May-18 -1.0%
Apr-18(1) -2.1%
Mar-18(1) 6.7%
Feb-18 -2.4%
Jan-18 -4.4%
   
2018 YTD
2017 YTD
2018/2017 Q2
-0.2%
-1.8%
-0.6%
2018/2017 Q1
0.0%
2017/2016 Q4
0.6%
2017/2016 Q3
-1.6%

 


U.S. Monthly Percent
Change
vs Prior Month


August

-0.5%

% Change
Age Groups
(year-over-year)




0-44



45-59



60+
       
Aug - 18
-1.9%
0.6%
4.4%
Jun - 18
1.0%
-0.4%
1.6%
May - 18
-1.7%
-0.6%
0.4%
Apr - 18(1)
-2.3%
-2.5%
-0.6%
Mar - 18(1)
6.8%
6.4%
7.0%
Feb - 18
-1.8%
-3.5%
-2.7%
Jan - 18
-3.7%
-6.3%
-3.6%

 

 

 

 

 

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