Activity Gaining Steam in Life Insurance Market

12/21/2009

A slowly improving economy appears to be encouraging more consumers to make investments in life insurance protection, judging from some recent statistics.

According to the latest Life Index from the MIB Group, application activity for life insurance policies was up 3.9 percent during the month of November. This improvement was particularly significant in light of a trend over the past year where insurance applications have largely been on the decline.

For example, over the past three months, life insurance applications were said to have fallen by a combined 0.1 percent margin. However, this compares favorably to the 1.6 percent decline in activity recorded in the second quarter of the year. In fact, on a year-over-year basis, life insurance applications were up 4.1 percent at the end of November.

"It is clear consumers are recovering their interest in the benefits available from life insurance," said Stacy Gill of MIB Solutions.

Regardless of the current economic conditions, life insurance is an important investment - especially for families with young children or with dependent older relatives. People can also consider life insurance investments as a way to pass on charitable contributions after their death or for other investment purposes.

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