US individual life application activity still in the doldrums

Application activity for
individually underwritten life insurance in the US during the first
10 months of 2011 eased by 0.4% when compared to the same period in
2010, research firm MIB has reported.

Putting a positive spin to
the results of its survey, MIB CEO Lee Oliphant commented: “At a
time when the US economy is struggling to define direction, the
pipeline for new life insurance business appears to be holding its
own.”

According to MIB data, it has
been the over 60 age group that has prevented application activity
from slipping further. In the first nine months of 2011,
application activity among this age group increased by 8.4%. In the
age group up to 44, application activity declined by 2.9% while in
the age group 45 to 59 it declined by 0.3%.

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