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http://www.marketwatch.com/news/story/MIB-Life-Index-Reports

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BRAINTREE, Mass., Nov 11, 2008 /PRNewswire via COMTEX/ -- North American application activity for individually underwritten life insurance was down -1.8% in October year-over-year, according to the MIB Life Index(SM). Year to date (YTD) U.S. and Canadian activity remained stable off -1.9%, compared to the same ten months last year. October activity was up +2.5% over September 2008, in a range consistent for this period.


Added on: Fri Dec 12, 2008 11:13 am by : jeorge

     
The impacts of the economics slowdown are becoming prominent with each passing day. The record with the MIB shows that the rate of application for life insurance has dropped for all age level.

I was wondering what would be its effect on the whole insurance industry!?!


dallas-mom
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what's MIB? and how valuable is their report? I recently have purchased a life plan on my daughter & I wasn't told of an MIB report!!



     
Hey Dallas mom, actually very few people know about the existence of MIB. MIB (Medical Information Bureau) records the health care report of the individuals, who at any point of time have applied for individual health/life insurance plan, and make this report available to the participating health and life insurance companies.

Hence, every time you apply for a life or health plan the insurer will pull out the report from the MIB database to check your insurability. The request for reports on consumers' medical histories have decreased this year due to the slack in the economy, which implies that lesser people now are considering ensuring the future of their families in this hard time. Hope that clarifies.


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