April showers bringing about positive life insurance activity

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April showers appear to have brought an increase in individually underwritten life insurance applications, according to a monthly analysis.

For the first time in seven years, April’s monthly life insurance application activity showed an increase over the prior year, rising 1.1%, according to the MIB Life Index.

April’s increase marks the second straight month of growth, putting the year-to-date number at 0.4% off of last year’s tally after four months.

Researchers say the individual life insurance market might be “starting to see some post-recessionary gains,” according to a statement from the MIB Life Index.

April’s activity was 7.4% less than that of March, consistent with month-to-month seasonal trends for this time period, researchers said.

By age, the 60 and above age group showed continued increases, with an 8.4% increase over the same period last year. The middle age group, those 45 to 59 years old, showed a slight incline, up 1%. Applications for people age 0-44 were off slightly, falling 0.8%.

 

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