The number of individually underwritten life insurance applications filed rose 1.6% in October, compared to the same period last year, according to the monthly MIB Life Index.
Researchers said the increase was better than reported, given that this past October had fewer business days than the same month in 2010.
For the year, application activity is off 0.4%.
“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,” said Lee Oliphant, MIB’s CEO, in a statement.
The increase was for all ages combined, but was fueled mostly by those age 60 and above, who marked a 10.9% increase in October over the same month last year, according to the index.
Other age groups didnt do as well. Appli
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