Where Did the Young Life Insurance Applicants Go?

In December, here’s how year-over-year activity changes broke down by age group:

• Ages 0-44: -7.4%
• Ages 45-59: -0.9%
• Ages 60 and older: +10.5%

Here’s what happened to full-year activity levels:

• Ages 0-44: -2.7%
• Ages 45-59: -0.7%
• Ages 60 and older: +3.3%

Overall activity for consumers of all ages was down 1.1% in 2018. In 2017, overall activity fell 1.8%.

Lee Oliphant, MIB’s chief executive officer, said in a statement that he believes life insurers continue to have problems with reaching younger consumers, in spite of efforts to reinvent the insurance purchasing process.

“Our discussions with MIB members confirm the year-end challenges life insurers experienced, particularly those with younger-age buyers,” Oliphant said.

— Read Life Application Activity Rises. For ALL Age Groups, on ThinkAdvisor.

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