A new reading of the MIB Life Index shows application activity in Canada trending higher for the 14th consecutive month in October. Year-over-year activity was up 6.6 per cent while year-to-date activity was up 6.3 per cent when compared to the same period in 2024.
Month-over-month, however, application activity was flat, coming in 0.4 per cent lower when compared to September’s figures.
“Canadian life insurance application activity in October 2025 continued a consistent pattern of growth seen since September 2024,” the MIB Group states in its October report.
They add that 23 per cent of the total life index volume in Canada for October 2025 did not include a product type. “Missing product type information can have a significant impact on the Canadian analysis,” they state. “Growth varies when looking solely at submissions identified as life insurance products, with activity up by double digits of 25.6 per cent year-over-year for Canada in October 2025 and up 14.3 per cent, year-to-date.”
Application activity by age group
While all products saw year-over-year growth, application activity by age group was notable with the number of applicants over age 51 growing in the double digits while all other ages saw declining application activity. “It is also interesting to note the pattern seen since May where growth increases as age increases, and a continued surge in growth for ages 71+,” they write.
Activity among clients up to and including age 30 was down 12.5 per cent. Application activity among those between 31 and 50 was also down 2.6 per cent. The number of applicants between 51 and 60 increased 13.7 per cent; applicants between 61 and 70 jumped 46.8 per cent and the number of applicants over age 71 soared 84.3 per cent.
“Aggregate growth was largely driven by activity for amounts up to and including $250,000, which saw double digit growth,” they write.
