U.S. life insurance application activity ended the first half of 2025 up +1.7% Year-to-Date (YTD), with activity in June up 6.6% Year-over-Year (YOY). When taking a historical lookback, 2025 mid-year YTD activity was up +2.3% compared to 2023 and up +6.7% compared to 2022. On a quarterly basis, activity during Q2-2025 was up +2.8% compared to Q2-2024. Additionally, in a pattern consistent with historical seasonal trends, Q2-2025 was down compared to Q1-2025 by -11.1%.

Throughout the first half of 2025, the 71+ age band has significantly exceeded all other ages in growth, with double-digit YOY growth in all months except for February. Additionally, starting in March ages 61-70 has seen consistent monthly YOY growth and, as of the end of the first half of 2025, ages 61-70 and 71+ are the only age bands at YTD growth. For the month of June 2025, all age bands saw growth, with double-digit growth for ages 61+. On a quarterly basis, when comparing Q2-2025 to Q2-2024, ages 0-30 was down -1.8%, ages 31-50 up +1.6%, ages 51-60 flat at +0.6%, ages 61-70 up +8.3%, and ages 71+ up +24.8%. On a YTD basis, activity through mid-year 2025 was at growth for ages 61+, in the double digits for ages 71+, flat for ages 0-50, and declined for ages 51-60.

Based on data reported to MIB by our members, June 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 triple digits for amounts over $2.5M up to and including $5M. Similarly, when comparing Q2-2025 activity to Q2-2024, all face amounts saw growth, in the double digits for amounts over $250K up to and including $2.5M and over $5M, and triple digits for amounts over $2.5M up to and including $5M. Additionally, when comparing YTD activity for the first half of 2025 to 2024, all face amounts also saw growth, in the double digits for amounts over $250K up to and including $2.5M and over $5M, and triple digits for amounts over $2.5M up to and including $5M.

When including age bands comparing Q2-2025 to Q2-2024, ages 0-30 saw growth for all face amounts over $250K, in the double digits for amounts over $250K up to and including $2.5M, and in the triple digits for amounts over $2.5M up to and including $5M, while amounts up to and including $250K saw flat activity. Ages 31-50 saw growth for all amounts over $250K, 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, while declines for amounts up to and including $250K. Ages 51-60 saw double-digit growth for amounts over $250K up to and including $500K, amounts over $1M up to and including $2.5M, and amounts over $5M, triple-digit growth for amounts over $2.5M up to and including $5M, and flat activity for all other face amounts. Ages 61-70 saw growth for amounts up to and including $500K and over $1M, in the double digits for amounts over $250K up to and including $500K and amounts over $1M, and flat activity for amounts over $500K up to and including $1M. Ages 71+ saw growth for all amounts, in the double digits for amounts up to and including $2.5M and amounts over $5M.

When examining product types as reported to MIB and comparing Q2-2025 to Q2-2024, all product types saw growth, in the double digits for Term Life. Term Life was up +17.8%, Universal Life up +9.4%, and Whole Life up +6.7%. When including age bands when comparing Q2-2025 to Q2-2024, Term Life saw double-digit growth for all age bands. Universal Life saw double-digit growth for ages 0-30 and 51+, and flat activity for ages 31-50. Whole Life saw double-digit growth for ages 61+, declines for ages 0-30, and flat activity for ages 31-60. When looking at mid-year 2025 YTD, Term Life saw double-digit growth, Whole Life saw growth, and Universal Life saw declines.

For the mid-year report, we are including an analysis of application activity by gender (based on activity where gender was reported to MIB). Females accounted for 49.2% of total application activity while males accounted for 50.8% YTD through June of 2025. If this pattern continues through year-end, it represents the second year in a row where application activity for males represent a greater percentage of total volume than that for females. This is in contrast to 2023 when males and females held an even 50/50 split of application activity and represents a shift from 2019 – 2022 when activity for females held a larger percent of total volume than that for males. It is also interesting to note that in the first half of 2025 there was more application activity for females than for males ages 61+, whereas there was more activity for males than females for ages 0-60.

Consistent with 2023 and 2024 mid-year analysis, application activity for males saw higher YTD growth than that for females through June 2025, with activity for males up +3.3% and for females flat at +1.5%. YTD growth in activity for males outpaced females across all age bands in 2024, with the highest gender-based variance seen for ages and 71+ followed by ages 0-30.

When examining activity by face amount and gender, YTD growth patterns for both males and females at mid-year mirrored aggregate results, with growth across all face amounts for both genders, in the double digits for amounts over $250K up to and including $2.5M and over $5M, and triple digits for amounts over $2.5M up to and including $5M.

When comparing the percent change YTD by gender, amounts over $500K up to and including $2.5M saw a higher YTD growth rate for application activity for females than males, amounts over $250K up to and including $500K saw a consistent growth rate across genders, and all other face amounts saw higher YTD growth for activity for males than females.

When adding product type to our gender analysis, YTD growth patterns for males and females again mirrored aggregate results, with growth for both genders for Term and Whole life and declines for Universal Life at mid-year. Within that, YTD growth for applications for males outpaced that for females for both Term Life and Whole Life while declines for Universal Life were even across genders.

Coming Soon - As part of our mid-year report we will be publishing a video providing additional insights into the first half of 2025. Watch your email for more information and follow us on LinkedIn to receive notifications in your feed.

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