(WESTWOOD, Mass. May 9, 2002) – Compared to the same
period the year before, consumer applications for life insurance registered a significant
increase in April after experiencing a slight downturn in March. Before that, the industry
had seen five consecutive months of increased activity.
According to The MIB Life Index for April 2002, activity
among U. S. insurers was up 10.3 percent from the levels of April 2001. April 2002 results
showed a modest decrease of 0.2 percent in activity compared to March 2002 that can be
attributed to seasonal changes between March and April.
Stacy J. Gill, Vice President and Chief Knowledge Officer
at the MIB Group’s e-Services Corporation commented, “We’re seeing a strong
year-over-year positive trend. Industry executives tell us that they have seen little
change in placement rates, and don’t expect any. This translates into higher overall
levels of policies issued. Application activity was driven by high volumes in the 60+ age
group, where the increase in activity was 20.2 percent.”
The MIB Life Index™ is released in summary form to the
media each month, providing a monthly snapshot free of charge to the industry.
The MIB Life Index
|Monthly Percent Change vs 2001|
|March 2002- February 2002||3.5%|
|Monthly Percent Change vs Previous Month|