MIB Activity Index-Tick Up In Activity

Medical Information Bureau (MIB) recently reported it's life insurance activity index for December 2010 and summation of 4Q results. December, historically being a high volume month associated with "year end push" in life underwriting departments across the board noted that December 2010 -although reporting a shortfall-was still an improvement over notable market declines experienced over the past 4 years. December closed at -1.2%-all ages combined. Prior years have had an annual decline run rate of -3%, December 2009 -0.2%.

MIB CEO, Lee B. Oliphant, provided further insight into the numbers indicating that 2010's "modest decline demonstrates resilience in the markets compared to the past".

4th Quarter results noted a surge in applicants aged 45-59 (a demographic that has suffered along with the economic decline over the past several years), seniors in the 60+ group continued to drive the market which has been a relatively consistent trend over the past several years.

What does this mean to this blogger? The increase in applicants 45-59 is a stand-out, it reflects that there is a feeling of increased market confidence -no matter how small-keeping in mind that for most individuals life insurance is still considered a "luxury" item, not a necessity.

"The most beautiful thing we can experience is the mysterious. It is the source of all true art and science" Albert Einstein

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