U.S. Life Insurance Activity Stumbles in March Reports the MIB Life Index

Application Activity Ages 60+ Continues on a Tear

Braintree, MA. (April 9, 2019) — U.S. life insurance application activity slowed in March, with the composite Index falling -4.9%, YOY, according to the MIB Life Index. The severity of the decline is largely attributable to a high percent change in the March 2018 comparative period (6.7%). For the first quarter, the MIB Life Index is off -1.0% versus Q1 2018. Once again, the shift has been away from younger age buyers, with the life insurance application activity in age 60+ predominating, despite its percent change decline from January highs. Younger age activity accounts for 53% of the total Life Index, speaking to first quarter declines. March activity for the composite Index was up slightly (0.8%) from that of February.
Life Index Chart
In the age groups, March application activity 0-44 were off -9.1% YOY, ages 45-59 were off -4.5% YOY, and ages 60+ were up 7.6% YOY.  At the end of Q1 2019, activity ages 0-44 are off -6.1%, ages 45-59 are up 0.5%, and ages 60+ are up 12.6% YTD. Application activity ages 60+ are showing their first double-digit quarterly growth in nearly a decade.

Watch our "2018 Year-in-Review" video with MIB CEO Lee Oliphant reporting on the industry's results (https://bit.ly/2018mibli). Login to the Enhanced Life Index Portal to download the 2018 MIB Life Index Annual Report at no charge or register to view at: www.mibsolutions.com/regLI.


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

Mar-19 -4.9%
Feb-19 0.4%
Jan-19 2.1%
Dec-18 -2.7%
Nov-18 -4.7%
Oct-18 -2.8%
Sep-18 -0.4%
Aug-18 -0.1%
Jul-18 0.8%
YTD - 2019
1.3%
YTD - 2018
-1.1%
Q1-2019
-1.0%
Q4-2018
-3.5%
Q3-2018
0.1%
Q2-2018
-0.6%
Q1-2018
0.0%



U.S. Monthly Percent
Change
vs Prior Month


Mar.

0.8%


% Change
Age Groups
(year-over-year)




0-44



45-59



60+
Mar-19
-9.1%
-4.5%
7.6%
Feb-19
-4.4%
1.9%
12.5%
Jan-19
-4.4%
4.6%
18.2%
YTD 2018
-2.7%
-0.7%
3.3%
Dec - 18
-7.4%
-0.9%
10.5%
Nov - 18
-9.4%
-2.4%
7.2%
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%



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

Mar-19 -4.9%
Feb-19 0.4%
Jan-19 2.1%
Dec-18 -2.7%
Nov-18 -4.7%
Oct-18 -2.8%
Sep-18 -0.4%
Aug-18 -0.1%
Jul-18 0.8%
YTD - 2019
YTD - 2018
-1.0%
-1.1%
Q1 - 2019 -1.0%
Q4 - 2018 -3.5%
Q3 - 2018
0.1%
Q2 - 2018
-0.6%
Q1 - 2018
0.0%

 


U.S. Monthly Percent
Change
vs Prior Month


Mar.

0.8%

% Change
Age Groups
(year-over-year)




0-44



45-59



60+
Mar - 19
-9.1%
-4.5%
7.6%
Feb - 19
-4.4%
1.9%
12.5%
Jan - 19
-4.4%
4.6%
18.2%
YTD 2018
-2.7%
-0.7%
3.3%
Dec - 18
-7.4%
-0.9%
10.5%
Nov - 18
-9.4%
-2.4%
7.2%
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%

 

 

 

 

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