A recent report suggests insurance agents have been successful in turning their life insurance leads into sales opportunities.
According to risk management solutions provider MIB and its LIfe Index, U.S. application activity for life insurance policies diminished marginally in the month of March, down about three-tenths of a percent when compared to the same 31-day period in 2011. In the first three months of the year, however, life insurance activity surged, rising more than 4 percent on a year-over-year basis. That marks the best start to life insurance purchase activity since the first three months of 2007.
There was some variability in application activity among different age groups. For example, the Life Index revealed life insurance application volume among individuals 44 years of age and younger was down by just over 2 percent in March year-over-year, while it held flat for those between 45 and 59 years of age. Meanwhile, application activity jumped more than 5 percent in March for people 60 years old and above.
On a quarterly basis, life insurance activity rose among all age groups, MIB noted.