Consumer applications for life insurance in the U.S. and Canada registered their fifth consecutive month of declining activity this past February compared to the same period in 2002, according to The MIB Life Index released Tuesday.

North American application activity decreased 6.1% in February compared to the same period last year. Activity among U. S. insurers was down 7% from levels observed in February 2002, while activity among Canadian insurers increased 1.8%, the 10th such increase in the last twelve months.

February’s 4% jump in North American activity from January 2003 levels is predominantly attributable to seasonal increases over the last seven years. February’s activity exceeded January’s by a median 4.3%.

Based on year-to- date application activity, the 60+ age demographic is currently the only age group showing growth in North America compared to 2002 year-to-date figures.

“Continued decline in U.S. application activity as reflected by The MIB Life Index may be seen as more discouraging news for the insurance industry, which is reporting large losses for 2002,” commented Stacy Gill, MIB’s vice president and chief knowledge officer. “However, sustained increased activity in the Canadian market, a trend that appears to move independent of U.S. market activity, continues to puzzle industry analysts and observers.”