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

Older age life insurance applicants resurgent

Braintree, MA. (November 7, 2018) — In an otherwise flat year, U.S. life insurance application activity slid in October, off -2.8% year-over-year, according to the MIB Life Index. For the past two consecutive quarters, application activity ages 60+ has outshined all others; this October marked its strongest divergence year-over-year from the 0-44 age group in 2018. Just one year ago, application activity ages 0-44 led all others. YTD the composite index lost ground in October off -0.5%, after four consecutive months of generally flat activity (-0.2%). Month-to- month activity was strongly positive with October applications up 3.4% from that of September.

Ages 60+ U.S. life insurance application activity solidly led all others, up 8.3% in October year-over-year―ages 45-59 were off slightly at -0.7%, and ages 0-44 was off sharply down -7.3%, year-over-year. Year-to-date losses doubled from last month for ages 0-44, off -1.4%, ages 45-59 are off -0.5%, and ages 60+ are up a healthy 2.3% YTD Y/Y. Month-over-month activity all showed healthy gains from prior September with 0-44 up 1.0%, 45-59 up 7.0% and ages 60+ up 5.3%. 

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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)

Oct-18 -2.8%
Sep-18 -0.4%
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
-0.5%
2018/2017 Q3
0.1%
2018/2017 Q2
-0.6%
2018/2017 Q1
0.0%



U.S. Monthly Percent
Change
vs Prior Month


Oct.

3.4%


% Change
Age Groups
(year-over-year)




0-44



45-59



60+
Oct - 18
-7.3%
-0.7%
8.3%
Sep - 18
-2.0%
0.2%
3.3%
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)

Oct-18 -2.8%
Sep-18 -0.4%
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 -0.5%
2018/2017 Q3
0.1%
2018/2017 Q2
-0.6%
2018/2017 Q1
0.0%

 


U.S. Monthly Percent
Change
vs Prior Month


Oct.

3.4%

% Change
Age Groups
(year-over-year)




0-44



45-59



60+
Oct - 18
-7.3%
-0.7%
8.3%
Sep - 18
-2.0%
0.2%
3.3%
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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