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US application activity for individually underwritten life insurance leveled off in March at -0.3% year-over-year, all ages combined according to the MIB Life Index. Despite this month's waning application activity, first quarter results were strong, up +4.2% year-over-year, the US industry's best start since 2007. March's application activity was off -4.5% from that of February. The March 2012 Index results reflect one less business day than its March 2011 comparative period. U.S. life insurance application activity by age group reflects the Life Index composite results for both month and quarter. March results showed ages 0-44, off -2.1%; ages 45-59, flat 0.0%; and ages 60+, up +5.2%, year-over-year. First quarter growth spanned all ages: 0-44 up +2.4% (largest quarterly increase since Q1 2002); 45-59 was up +3.5% (largest quarterly increase since Q4 2009); and ages 60+ up +11.5% year-over-year (largest quarterly increase since Q1 2010). |
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