Life insurance buying activity edges higher in October

Posted on: Tuesday, November 22, 2011

There's good news to report for insurance agents who sell life insurance, as the amount of business they've generated recently has been considerable.

According to risk management solutions firm MIB and its Life index, application activity for life insurance policies rose nearly 2 percent in October when compared to the same month in 2010 among all ages combined.

The firm noted that the year-over-year rise life insurance policies in October came despite there being one fewer business day in 2011 compared to 2010.

Lee Oliphant, chief operating officer for the MIB, said the report is a positive development for the industry at large, especially considering the vast number of people who are experiencing financial trouble.

"At a time when the U.S. economy is struggling to define direction, the pipeline for new life insurance business appears to be holding its own," said Oliphant.

These statistics are a confirmation that the marketing strategies carried about by agents to to turn insurance leads into sales are working, particularly among older people, as sales are up nearly 9 percent among individuals 60 years and up.

Posted In: Insurance News, Life Insurance

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