Life insurance activity increased in October

11/18/11

American consumer activity related to individual underwritten life insurance increased 1.6 percent in October when compared to statistics from last year, according to the MIB Life Index.

The 1.6 percent increase took place in a month that had one less business day than October 2010, and was 8.3 percent higher than the application activity statistics from September.

“At a time when the U.S. economy is struggling to define direction, the pipeline for new life insurance business appears to be holding its own,” stated Lee Oliphant, MIB’s CEO.

Americans applying for life insurance coverage may look to it as a smart way to prepare for the future, should unexpected circumstances arise.

The MIB Life Index is released to the media every month and is based on the number of searches MIB life member company underwriters conduct on the MIB Checking Service database.

This number is welcome news, given LIMRA statistics released recently that showed more than six million households with children under the age of 18 have no life insurance or term life insurance protection.

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