MIB-A Year in Review

Medical Information Bureau (MIB) just released Q4 and 2011 annual reports. Q4 proved to be a solid finish to a year that was stable across some age groups and quite active in others. To quote MIB directly, "The MIB Life Index showed marked resilience in 2011". Most age groups reflected an end of year increase in activity ( 45-59 year olds +0.1%, 60+ age groups +8.9% ). The only age group that reflected a slight downward trend was 0-44 (-2.2%). Application activity in total increased .2% compared to 2010 (which indicated that total activity for "individually underwritten life insurance applications fell 1.2%").

60+ age groups, continue their upward (YOY) trend (15.03% in 2010, 16.7% in 2011) which is consistent with development, and expanded, simplified issue programs along with a renewed carrier focus on middle market sales.

Age related distribution of activity noted 54.2% of all applications came from ages 0-44 (a slight drop from 2010 which reflected 55.6%); 29.1% ages 45-59 (unchanged from 2010); 16.7% 60+ age groups (increase from 15.3% in 2010).

Overall, these are encouraging year end results which , in this blogger's view, indicate some increased confidence on behalf of the consumers of insurance products. Certainly a more positive outlook than the prior years reports indicated!

As a tribute to a very young, but incredibly brilliant, young lady that recently succumbed to an untimely death, I wanted to take the opportunity to utilize one of her quotes-a wonderful reflection as we begin the new year;

"If you want to do something big in your life, you must remember that shyness is only the mind," she said. "If you think shy, you act shy. If you think confident you act confident. Therefore never let shyness conquer your mind."

Arfa Karim Randhawa, aged 10 (2005)

May all of my readers have a prosperous and blessed 2012!