(Westwood, Mass. � May 13, 2004) Applications for life insurance in North America were absolutely flat (0%) in April with 2004 volumes mirroring that of April 2003. This is the second consecutive month of statistically flat activity when compared to the prior year’s Index values. Year-to-date, overall U.S. activity is off -1.5%, with Canadian activity down slightly at -0.3% compared to the same period last year. April over March 2004 results show declining U.S. activity, -5.5%, characteristic for this time period, and a Canadian decline of -1.0%.
April’s flat monthly activity is as a result of shrinking activity in the 0-44 age group being offset by continued growth in the age 60+ demographic according to the MIB Life Indexsm. The age 60+ demographic grew by +6.9% in the U.S., and +11.3% in Canada year-over-year; application activity in the 45-59 age group was mixed, U.S. off -0.4% and Canada up +2.6%; and the 0-44 age group declined across the board, U.S. off -1.0% and Canada off -1.8% year-over-year.
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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