Life insurance applications decline for sixth straight month

U.S life insurance application activity fell slightly in November, marking the sixth straight month of declines.

The monthly MIB Life Index found that application activity for individually underwritten life insurance declined 1.6% in November compared to the same month in 2009.

So far this year, declining months have outnumbered gainers, 8-3, with the last gains coming last January and March.

Because of the declines, the January-November period shows a 1.2% decline from 2009.

On the bright side, November’s activity exceeded October’s numbers by 2.1%, making it four straight months of monthly increases.

The age 60 and above age group showed the best numbers, with a 6% increase over November 2009. Ages 0-44 filed 3.4% fewer applications, while people age 45-59 filled out 1.5% fewer applications than in November 2009, according to the index.

Source: ifawebnews.com