Braintree, MA. (October 9, 2018) — U.S. life insurance application activity was off slightly in September, down -0.4% year-over-year, according to the MIB Life Index. Once again application activity ages 60+ outshined all other age groups—positive for the past five consecutive months. September’s results left the composite index YTD unchanged at -0.2%. September’s application activity was up 3.4% from that of August showing typical growth for the fall season. At the close of the third calendar quarter, Q3 2018 lost ground compared to Q2 2018, off -3.3%; same quarter, year-over-year shows Q3 2018 / Q3 2017 flat at 0.1%.
Ages 60+ U.S. life insurance application activity led all others, up 3.3% in September year-over-year―ages 45-59 were flat at 0.2%, and ages 0-44 lost -2.0%, year-over-year. Year-to-date, ages 0-44 are off -0.7%, ages 45-59 are off -0.5%, and ages 60+ are up 1.6% YTD Y/Y. For the third quarter, ages 0-44 were off -1.7%, ages 45-59 were up 1.0%, and ages 60+ increased 4.2%.