Fewer people applied for life insurance in the United States in March than in the same month last year.
According to the Medical Information Bureau (MIB) Life Index, which measures application activity for individually underwritten life insurance in the US, the demand for individually underwritten life insurance dropped by 3% year-over-year, all ages combined. However, the MIB notes that this is the first monthly decline in year-over-year application activity since June 2014, and that the Life Index is still up by 1.5% for 2015.
As has been the case in previous months, the 60 and over age group posted the strongest gains, up by 1.4% compared to March 2014. Application activity for ages 0 to 44 and 45 to 59 declined by 4.5% and 2.7% compared to the same month last year.