(Westwood, Mass. � March 12, 2004) February applications for life insurance in North America dipped slightly year-over-year (0.8%). February results mask a 20.5% jump in U.S. applications over January 2004 and were 2.1% above December 2003, overcoming the worst January on record since 1999. Year-over-year, U.S. applications were off slightly at 0.7%, with Canadian activity decreasing 2.0%. Year-to-date, U.S. activity remains 2.9% below the same two-month period in 2003.
According to the MIB Life Indexsm for February, year-over-year application activity in the 0-44 age group declined across the board: 2.3% U.S. and 3.9% Canada; was flat in the 45-59 age group: 0.3% U.S. and 0.2% Canada; and remained characteristically strong in the 60+ age group: 7.9% U.S. and 8.3% in Canada.
MIB’s 2003 Life Index Annual Report provides an extended analysis of the year in review by age break and new this year, geographic region.
| Monthly Percent Change vs 2003 | |||
| US | Canada | Total | |
| February 2004 | -0.7 | -2.0 | -0.8 |
| January 2004 | -5.7% | -1.6% | -5.3% |
| YTD 2004 | -2.9% | -1.4% | -2.8% |
| Monthly Percent Change vs Previous Month | |||
| US | Canada | Total | |
| February 2004 | 20.5% | 18.5% | 20.3% |
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 www.mib.com
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