Application activity in Canada, according to researchers compiling the MIB Life Index, has broken records in January 2026, with year-over-year activity up 9.2 per cent.
They say this is the highest volume of activity for any January on record. MIB has been collecting its Canadian data since 2018.
Month-over-month, January 2026 was up 13.3 per cent over December 2025 figures, the fourth year in a row that MIB is reporting double digit, month-over-month growth in January.
Applicants were generally over age 40. These age groups experienced year-over-year growth, in the double digits among those over age 50. Age bands up to age 39 saw declines, in the double digits for those under 29.
Broken down, application activity for those between the ages of 50 and 59 rose 14 per cent. It increased 39.5 per cent year-over-year among those between ages 60 and 69 and jumped a notable 61.5 per cent among those over age 71. “These results are reflective of a consistent pattern seen since August, where growth increases as age increases,” the January MIB Life Index report for Canada states.
“While we saw growth across all products, Universal Life saw the most significant increase for this age group, especially among those ages 60-69,” an MIB spokesperson told the Insurance Portal.
Application activity for those under age 29 was down 10.7 per cent.
By product type, term life was up 5.7 per cent, year-over-year, whole life application activity was up 22.3 per cent and universal life applications jumped 59.6 per cent.
MIB changes its methodology
The January 2026 report from MIB was also notable, as the company announced a change in its methodology for measuring application activity in Canada. Where applications with unknown product type were previously assumed to be life insurance applications, these are now only included in the analysis when life insurance is the line of business indicated.
“Historical data in this report has been restated based on our new methodology, however, historical reports archived on our website reflect the methodology in place at the time of publication,” they write.
