Life Application Activity Rises 3.4% in 2021: MIB Life Index

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Life Application Activity Rises 3.4% in 2021: MIB Life Index
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Growth driven primarily by ages 31-50 and 71+ according to end-of-year data.
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I'm a bit surprised that the growth wasn't larger than 2020 especially since more people had died from covid in 2021 than 2020.

The other item I find interesting are the larger face amounts growth, and in a lot of cases, double digit growth for $1 million+ applications.

I would guess that the main reason why that happened is that more people with the means to pay, realized that they could REALLY DIE from covid by constantly hearing/reading/seeing the news about hospitalization numbers and death numbers. They took it to heart so much, that they could actually imagine not being alive and seeing their spouse and kids trying to get by without their income and as a result was willing to get the kind of face amount to match their possible expectation of death from the virus or complications due to the virus.

I'm sure there are other opinions about that particular larger face amount growth in 2021.
 
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