This week we have updates from LIMRA and MIB Group on Life Insurance premium and application activity results.
LIMRA: U.S. Retail Life Insurance Premium Increases Three Percent in 2016 | Limra.com | March 9, 2017
Total U.S. life insurance new annualized premium grew 5 percent in the fourth quarter, resulting in a 3 percent increase in 2016, according to LIMRA’s Fourth Quarter Retail Life Insurance Sales Survey.
In the fourth quarter, policy count fell 4 percent and as a result, policy count growth was flat for 2016.
U.S. Life Insurance Activity off -4.5 in February Reports the MIB Life Index | mibgroup.com | March 7, 2017
Application activity for individually underwritten life insurance was off -4.5% in February, according to the MIB Life Index. After a record setting eight consecutive quarters of growth ending in Q2 2016, the MIB Life Index lost ground in the remaining two quarters—declines that have continued across the first two months of 2017. At February’s close, the composite Life Index is off -3.6% YTD. Month-over-month, February’s application activity was 2.1% higher than that of January. February’s results confirm that the long-term growth trend line for the MIB Life Index has shifted.