U.S. life insurance application activity continued to grow in November 2025, with Year-over-Year (YOY) activity up +9.4% compared to November 2024. On a Year-to-Date (YTD) basis, activity through November 2025 was also up, at +5.5% compared to November 2024. When comparing November YTD 2025 to the same month in prior years, activity was up +6.1% compared to 2023 and up at +8.8% compared to 2022. On a Month-over-Month (MOM) basis, November 2025 saw flat activity at +0.1% compared to October 2025.

For November 2025, ages 31+ saw YOY growth, in the double digits for ages 51+, while ages 0-30 saw flat activity. November YOY activity for ages 0-30 was flat at -1.3%, ages 31-50 up +7.1%, ages 51-60 up +12.9%, ages 61-70 up +22.2%, and ages 71+ up +40.8%. It is interesting to note an ongoing trend for ages 71+, which has seen double-digit YOY growth for 10 out of 11 months in 2025. Similarly, ages 61+ has shown consistent double-digit growth since June. On a Year-to-Date (YTD) basis, activity through November 2025 saw growth for ages 31+, in double digits for ages 61+, with flat activity for ages 0-30. November YTD activity for ages 0-30 was flat at +0.5%, ages 31-50 was up +3.5%, ages 51-60 up +4.6%, ages 61-70 up +12.7%, and ages 71+ up +30.2%

Based on data reported to MIB by our members, November 2025 saw YOY growth for 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 declines were observed for face amounts up to and including $250K. Additionally, when comparing YTD activity through November 2025, activity for all face amounts saw growth, 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.

When including age bands, ages 0-30 saw YOY growth for face amounts over $500K, in the double digits for amounts over $500K up to and including $2.5M as well as over $5M, and in the triple digits for amounts over $2.5M up to and including $5M. In contrast, activity was flat for amounts over $250K up to and including $500K and showed double-digit declines for amounts up to and including $250K. Ages 31-50 saw YOY growth for amounts over $250K up to and including $5M, in the double digits for amounts over $500K up to and including $2.5M, and in the triple digits for amounts over $2.5M up to and including $5M, flat activity for amounts over $5M, and declines for amounts up to and including $250K. Ages 51-60 saw double-digit growth for amounts over $250K up to and including $1M and triple-digit growth for amounts over $1M up to and including $5M, flat activity for amounts up to and including $250K and declines for amounts over $5M. Ages 61-70 saw growth for amounts up to and including $5M, in the double digits for amounts up to and including $500K and amounts over $1M up to and including $5M, with flat activity for amounts over $5M. Ages 71+ saw double-digit declines for amounts over $1M up to and including $2.5M, and growth for all other age bands, in the double digits for amounts up to and including $1M and amounts over $5M..

When examining product types as reported to MIB by our members in November 2025, all product types saw growth, in the double digits for Term Life and Whole Life. Term Life was up +17.7%, Whole Life up +33.0%, and Universal Life up +8.5%. When including age bands, Term Life saw YOY growth for all ages, in double digits for ages 31-70 and in triple digits for ages 71+. Whole Life saw growth for all age bands, in the double digits for ages 31+. Universal Life saw growth for ages 31+, in the double digits for ages 51+ and flat activity for ages 0-30. Additionally, when comparing YTD activity through November 2025, Universal Life saw growth while Term Life and Whole Life saw double-digit growth.