Following a record rise in application activity in the third quarter of 2026, the latest reading of the MIB Life Index, produced by MIB Group Inc., shows application activity up just 1.1 per cent in October 2026 when compared to the same month in 2025.
Although year-to-date figures continue to show growing application activity, notably so among older clients (October 2026 year-to-date application activity remained up 12.3 per cent), month over month, October 2026 was down 6.7 per cent when compared to application activity recorded in September.
“Ages 60+ experienced year-over-year growth in October 2026, in the double digits for ages 70+ and ages zero to 59 saw declines,” MIB’s researchers write.
Based on information reported to MIB by its members, year-over-year application figures show a 21.6 per cent increase in the number of term life applications. “Term life saw year-over-year growth for all age bands,” they write, “in the double digits for ages 30 to 69,” they add.
Universal life applications increased 15.1 per cent while whole life applications dropped 4.1 per cent – this despite whole life applications growing in the double digits among those over age 60. This was offset by flat activity among those under age 29 and for those between 50 and 59, while application activity declined in the double digits for those between 30 and 49.
That said, year-to-date figures continue to hold, they add. “On a year-to-date basis, all product types saw growth, in the double digits for term life and universal life,” they conclude.
