(Westwood, Mass. � April 13, 2004) Applications for life insurance in North America declined slightly in March, down 0.7% year-over-year. For the first quarter, U.S. applications declined 2.0%, and Canadian activity was off slightly at 0.4% compared to first quarter 2003.
According to March’s MIB Life Indexsm, the 60+ age demographic saw the largest increase in application activity of just over eight percent for each region, U.S. (+8.2%) and Canada (+8.6%) compared to last year. The age 60+ first quarter results mirrored this growth, U.S. (+5.9%) and Canada (+6.8%) compared to Q1 2003. Application activity in the 0-44 age group declined across the board, U.S. (-2.2%) and Canada (-0.7%) year-over-year; down 3.4% and 2.0% respectively, Q1 2004/2003. Application activity in the 45-59 age group was mixed, U.S. (-1.1%) and Canada (+1.9%) year-over-year; down 1.3% and up 1.8% respectively, Q1 2004/2003.
| Monthly Percent Change vs 2003 | |||
| US | Canada | Total | |
| March 2004 | -0.9 | +0.6 | -0.7 |
| February 2004 | -0.7% | -2.0% | -0.8% |
| YTD 2004 | -2.0% | -0.4% | -1.8% |
| Monthly Percent Change vs Previous Month | |||
| US | Canada | Total | |
| March 2004 | -0.8% | +1.5% | -0.5% |
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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