MIB Life Index Reports North American Life Insurance Activity off 3.7% in August

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WESTWOOD, Mass., Sept. 28 /PRNewswire/ -- North American application activity for individually underwritten life insurance was down -3.7% in August, year-over-year according to the MIB Life Index(SM). Year-to-date (YTD) U.S. and Canadian application activity remained level from July's volume, off -3.3% compared to the same period last year.U.S. application activity declined -4.8% in August year-over-year, all ages combined.

Declining activity was seen in the 0-44 and 45-59 age groups, off -6.2% and -4.1% respectively, while the 60+ age group extended a five month growth trend up +1.3% versus August 2006. YTD, U.S. application activity lags -3.6% behind the same eight month period in 2006. August activity was up +0.8% versus that of July; historical growth for this period has been +3.0% to +3.5% over the past three years.Canadian application activity was up +4.1% in August year-over-year, all ages combined.

This is the highest application volume for an August ever recorded since the inception of the MIB Life Index in 2001. Application activity was up across all three age groups: ages 0-44, up +1.9%; ages 45-59, up +7.7%; and ages 60+, up +8.8%. YTD, Canadian application activity is closing the gap to positive territory, off -1.4% compared to same period 2006.Monthly Percent Change vs. 2006 U.S. Canada Total August 2007 -4.8 % +4.1 % -3.7 % July 2007 -2.6 % +6.5 % -1.5 % YTD 2007 -3.6 % -1.4 % -3.3 % Monthly Percent Change vs. Previous Month U.S. Canada Total August 2007 +0.8 % +0.4 % +0.7 %