U.S. Life Insurance Activity Improves in May Reports the MIB Life Index

Older Age Application Activity Stands Out

Braintree, MA. (June 14, 2019) — U.S. life insurance application activity moved upward in May principally driven by older age applications, with the composite MIB Life Index up 1.1% YOY. The Index has shown some signs of recovery since its March 2019 YOY decline of -4.9% as we head toward the slower summer season. Year-to-date, the MIB Life Index has moved closer to par value with application activity off -0.4%. May application activity for the composite Index was off -6.4% from that of April, largely attributed to last year's extra business day, Good Friday anomaly.
Life Index Chart
Older age life insurance buyers once again predominated with applications showing double-digit growth in five of the last six months. While still negative, application activity in the younger ages continues to show improvement in May. May's application activity ages 0-44 was off -2.8%, ages 45-59 was up 0.5%, and ages 60+ was up 13.3% YOY. Year-to-date, application activity ages 0-44 improved from last month, off -5.1%, ages 45-59 stayed level with last month up 0.7%, and ages 60+ ticked up slightly at 12.3%.

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)

May-19 1.1%
Apr-19 0.1%
Mar-19 -4.9%
Feb-19 0.4%
Jan-19 2.1%
Dec-18 -2.7%
YTD - 2019
-0.7%
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


May

-6.4%


% Change
Age Groups
(year-over-year)




0-44



45-59



60+
May-19
-2.8%
0.5%
13.3%
Apr-19
-4.0%
1.3%
10.8%
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%





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

May-19 1.1%
Apr-19 0.1%
Mar-19 -4.9%
Feb-19 0.4%
Jan-19 2.1%
Dec-18 -2.7%
YTD - 2019
YTD - 2018
-0.4%
-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


May

-6.4%

% Change
Age Groups
(year-over-year)




0-44



45-59



60+
May - 19
-2.8%
0.5%
13.3%
Apr - 19
-4.0%
1.3%
10.8%
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%

 

 

 

 

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