Universal life insurance applications continued the recent downwards trend, showing a decline of -18.5% versus February last year. Universal Life has not seen year on year growth since November 2023.
Term Life, on the other hand, has shown consistent year on year growth since July 2024, and did so again last month, up +13.3% versus February 2024.
Whole Life was, essentially, flat at -1.0%. US life insurance application activity overall declined in February 2025 compared to February 2024, with year-on-year activity down -2.1%.