Canadian life insurance application activity at the end of the first quarter of 2026, was up 15.1 per cent, year-to-date. Activity in March was up 18.6 per cent, year-over-year and activity for the first quarter of 2026 was up 12.3 per cent when compared with the last quarter of 2025.
Notably, those over age 70 would appear to be applying most frequently. “In March 2026, ages 30+ saw year-over-year growth, in the double digits for ages 40 to 69 and in the triple digits for ages 70+,” MIB Group Inc. researchers write in the latest MIB Life Index report.
Comparing the first quarter of 2026 to the first quarter of 2025, policy applications were down 6.3 per cent for those up to 29 years of age, up 1.6 per cent for those between 30 and 39 and up 7.6 per cent for those between ages 40 and 49. As applicants get older, the numbers begin to jump dramatically: Application activity jumped 17.1 per cent for those between 50 and 59, climbed a notable 51.7 per cent for those between ages 60 and 69 and increased 93.6 per cent for those over age 70.
“Ages 70+ saw growth for all face amounts, in the triple digits for amounts from $100,000 up to but not including $250,000 and in the double digits for all other face amounts,” MIB adds.
Overall, all product types saw year-over-year growth in March. The 18.6 per cent growth in application activity reported is the highest year-over-year growth for the month of March on record since MIB began publishing its Canadian analysis in 2018.
The report says term life was up 16 per cent, whole life applications were up 28.9 per cent and applications for universal life were up 72.9 per cent, year-over-year.
