US life insurance application activity finished 2024 flat at -0.1% year-to-date (YTD) compared with 2023, while remaining at +2.8% above YTD activity for 2022, and down -2.9% compared to 2021, according to the latest update from the MIB Life Index.
Year-on-year activity in 2024 fluctuated from a high of +10.3% in April to a low of -7.3% in December with January, February, April and July seeing growth, May, September, October and November seeing flat activity, and March, June, August and December seeing declines.
Face amounts over $250k saw growth in 2024 YTD, in the double digits for amounts over $500K, and amounts up to and including $250K saw flat activity.