Universal life insurance applications were down again year on year in April 2025, according to the latest MIB Life Index, continuing a trend that began in November 2023.
In a rare bright spot for the product, however, growth was observed in the 61+ age cohort, and double-digit gains were seen in the 71+ group.
Generally, the age 71+ cohort has delivered a surge in life insurance application growth throughout 2025, achieving the second consecutive month of double-digit year on year growth in April.
US life insurance application activity overall was essentially flat year-over-year (YOY) in April 2025 compared to April 2024 at +0.5% but when comparing April 2025 to the same month in prior years, activity was up +10.9% compared to 2023 and up +9.3% compared to 2022.