Life Activity Rises

Life Activity Rises   

By ALLISON BELL

Published 4/21/2011 

U.S. life insurers researched more requests for individual coverage in March than they did in March 2010, and activity for older applicants continued to be strong.

The MIB Group Inc., Braintree, Mass., has published new life activity data in an analysis of U.S. life insurers’ use of MIB databases to check individually underwritten life applications.

Overall U.S. activity volume increased 0.6% in March. Activity volume fell 0.6% for applicants ages 0 to 44 and 1.6% for applicants ages 45 to 59. Activity for applicants ages 60 and older climbed 9.3%.

In February, application research activity was 1.4% lower than in February 2010.

In related news, Country Financial, Bloomington, Ill., says Americans seem to be more pessimistic but also seem to be working harder to save for the future.

Country sponsors a telephone survey series that generates responses from about 3,000 U.S. adults each month.

The percentage of participants who said they expect to have enough money to enjoy a comfortable retirement fell to 52% earlier this month, from 57% in April 2010, and the percentage who said they rate their overall financial security as excellent or good plateaued at 38%.

But the percentage who said they were able to set aside money for savings and investments increased to 48%, from 45%.