Consumer applications for life insurance in the United States and Canada fell 2% in June compared to a year ago, according to a report from MIB Group Inc. Based in Delaware, MIB is a membership association of North American life insurance companies.

Activity among Canadian insurers increased 2.4% over June 2001 levels, however these gains were offset by declining activity in the U.S. of 2.5%, dampening overall results. Shaped by April and May’s brisk application activity, North American life insurance application volumes showed significant strength in the second quarter 2002, posting a 5.1% increase over the second quarter of 2001.

According to The MIB Life Index for June 2002, activity among U.S. insurers in the 60+ age group was up 6.5% from June 2001 levels, primarily at the expense of the youngest (0-44) age group; a noteworthy reversal of application demographics some nine months post September 11th. June’s Index also confirmed two consecutive month-to-month declines in aggregate application volume; April to May off 3.6%, May to June off 11.7%.

“The overall trend remains positive, but June’s drop in activity, together with back-to-back monthly declines in volume, suggests a moderating growth trend overall. This year will continue to provide interesting challenges for the industry,” said Stacy Gill, vice president and chief knowledge officer at the MIB Group’s e-Services Corp., in a news release

MIB Group, Inc. is a non-stock, not-for-profit membership association of North American life insurance companies incorporated in Delaware.