(Westwood, Mass. � August 13, 2002) Consumer applications for life insurance in North America increased 3.6 percent in July as compared with the same period last year, rebounding from last month’s slight downturn. U.S. application activity showed a 2 percent increase while Canadian activity continued double-digit growth, increasing 18.6 percent as compared
to July 2001. Overall, North American application activity has increased in eight of the last ten months year over year.
According to The MIB Life IndexSM for July 2002, U.S. activity in the 60+ age group remained strong with a 7.2 percent increase, coming on the heals of June’s 6.5 percent increase. In contrast, Canadian application activity for this age group contributed only a 9.9 percent increase to overall Canadian results, while 19.2 percent growth was observed in the younger demographics.
“The Canadian market remains vigorous, with double digit application growth in five of the last seven months.
This year’s relatively modest growth in U.S. applications is a net positive however, juxtaposed against last year’s flat to
diminishing application rates in this market,” says Stacy J. Gill, Vice President and Chief Knowledge Officer at the
MIB Group’s e-Services Corporation.
The MIB Life Index
The MIB Life Indexsm 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|
|June – July 2002||-0.2%||10.1%||0.8%|
|Monthly Percent Change vs Previous Month|
About MIB Group, Inc.
MIB Group, Inc., headquartered in Westwood, Massachusetts, is the leading provider of database and information management tools to the global risk management community, and is a leading facilitator of electronic insurance commerce via dedicated networks and Internet-based systems. MIB member companies underwrite more than 95 percent of the premium dollars of individual life insurance written in the United States and Canada. More information about MIB Group, Inc. is available at