Life Insurance Trends

U.S. Life Insurance Activity Leaps Forward in November

MIB Life Index reports that Gen X and Millennial buyers have returned

Braintree, MA. (December 9, 2019) — U.S. life insurance application activity surged ahead in November up 6.0% Y/Y, according to the MIB Life Index. While older age application activity continued its upward trend, it was Millennial and Gen X buyers who showed breakthrough activity posting significant gains in November Y/Y. The MIB Life Index composite is up 0.7% at November’s close, just one month after peeking above par value (up 0.2% YTD) this past October. November’s composite index value is at a four year high at 112.28, a level not seen for a November since 2015. Notably, November’s application activity soared 11.3% from that of October.

All Ages Show Growth

All the MIB Life Index age groups showed growth in November with life insurance application activity ages 0-44 up 4.6%, ages 45-59 up 7.2%, and ages 60+ up 8.2%. However, November gains only slightly boosted YTD activity for the under age 60 buyers. YTD application activity for ages 0-44 is down -3.2%, ages 45-59 are up 1.3%, and ages 60+ dipped slightly from last month, up 11% for the year.

Excerpts from the ​​MIB Life Index 2018: Age Distribution

Year-over-year, the relative sizes of the MIB Life Index age groups show growth in the 60+ age group, nearly all at the expense of the 0-44 age group. At year-end 2018, the 0-44 age group fell by -1.0% 2018/2017, totaling 54.2% of all individual life insurance applications; ages 45–59 grew by 0.1% 2018/2017, totaling 27.1% of all applications; and ages 60+ gained 0.9% 2018/2017 totaling 18.7% of all applications.

A three-year lookback (2018-2016) examining age group size percent change shows trends consistent with the 2018 year-end results: the 0-44 age group lost -0.4%, the 45-59 age group declined -0.5% and the 60+ age group gained 0.9%. The 0-44 age group’s size makes it a key driver in the overall index year-over-year percent changes. In 2018, its shrinkage correlates with decreases in this group’s YTD performance.

The five-year lookback (2018-2014) examining age group size percent change shows steeper declines in the 45-59 age group, off -1.4%; ages 0-44 take up a slightly higher proportion of the total applications, up 0.5%; and ages 60+ grew by 0.9%. 

Login to the Enhanced Life Index Portal to download past MIB Life Index Annual Report at no charge or register to view at: The 2019 MIB Life Index Annual Report will recap all the trends released late January 2020. Review our “2019 At-the-Half” video.