Life insurance plans: Fixed multiple of earnings benefit formulas Data Table

Table 19. Life insurance plans: Fixed multiple of earnings benefit formulas, private industry workers, 
National Compensation Survey, March 2009

(All workers with fixed multiple of earnings formula life insurance coverage = 100 percent)

Characteristics

Multiple of earnings amounts1

Mean
multiple of
earnings

Median
multiple of
earnings

Less than
1.0 times
earnings

1.0 times
earnings

Over 1.0
and under
2.0 times
earnings

2.0 times
earnings

Greater
than 2.0
times
earnings

All workers

1

60

12

24

3

1.3

1.0

Worker characteristics

             

Management, professional, and related

1

56

12

27

4

1.4

1.0

    Management, business, and financial

1

52

13

29

6

1.4

1.0

    Professional and related

1

58

11

26

3

1.4

1.0

Service

2

63

18

16

1

1.3

1.0

    Protective service

53

1.4

Sales and office

1

64

9

22

4

1.3

1.0

    Sales and related

1

72

7

17

3

1.2

1.0

    Office and administrative support

1

61

10

24

4

1.4

1.0

Natural resources, construction, and maintenance

2

63

9

25

2

1.3

1.0

    Construction, extraction, farming, fishing, and
     forestry

51

7

42

1.5

    Installation, maintenance, and repair

2

66

9

21

2

1.3

1.0

Production, transportation, and material moving

1

58

16

24

2

1.3

1.0

    Production

52

15

30

2

1.4

1.0

    Transportation and material moving

1

64

16

17

1

1.3

1.0

Full time

1

60

12

24

3

1.4

1.0

Part time

1

69

9

17

3

1.3

1.0

Union

2

63

9

23

3

1.3

1.0

Nonunion

1

60

12

24

3

1.4

1.0

Wage percentiles:2

             

    Lowest 10 percent

60

21

1.3

1.0

    Lowest 25 percent

68

15

15

2

1.3

1.0

    Second 25 percent

1

65

12

19

2

1.3

1.0

    Third 25 percent

1

58

13

24

3

1.4

1.0

    Highest 25 percent

1

56

10

29

4

1.4

1.0

    Highest 10 percent

1

51

11

32

5

1.4

1.0

Establishment characteristics

             

Goods-producing industries

1

49

14

31

6

1.5

    Construction

67

26

1.3

1.0

    Manufacturing

1

48

15

31

6

1.5

Service-providing industries

1

62

11

22

3

1.3

1.0

    Trade, transportation, and utilities

1

67

11

19

3

1.3

1.0

        Wholesale trade

48

18

27

6

1.5

1.5

        Retail trade

84

6

9

1

1.1

1.0

        Transportation and warehousing

2

64

14

19

1.3

1.0

        Utilities

2

38

6

49

6

1.7

2.0

    Information

67

5

24

4

1.3

1.0

    Financial activities

1

60

6

27

6

1.4

1.0

        Finance and insurance

1

59

5

27

7

1.4

1.0

            Credit intermediation and related activities

1

56

6

30

8

1.5

1.0

            Insurance carriers and related activities

2

65

4

23

5

1.3

1.0

        Real estate and rental and leasing

63

27

1.3

1.0

    Professional and business services

51

13

34

2

1.5

        Professional and technical services

51

10

35

3

1.5

        Administrative and waste services

50

31

1.4

    Education and health services

2

68

12

16

1

1.2

1.0

        Educational services

5

59

14

18

4

1.3

1.0

            Junior colleges, colleges, and universities

7

54

14

20

5

1.3

1.0

        Health care and social assistance

2

70

12

15

1

1.2

1.0

    Leisure and hospitality

61

28

11

1.2

1.0

        Accommodation and food services

60

32

7

1.2

1.0

    Other services

5

44

30

1.5

1 to 99 workers

1

59

12

24

4

1.4

1.0

    1 to 49 workers

1

58

12

25

4

1.4

1.0

    50 to 99 workers

1

61

12

24

3

1.4

1.0

100 workers or more

1

61

12

23

3

1.3

1.0

    100 to 499 workers

62

13

22

2

1.3

1.0

    500 workers or more

2

59

11

24

4

1.3

1.0

Geographic areas

             

New England

3

67

6

21

3

1.3

1.0

Middle Atlantic

3

59

14

21

3

1.3

1.0

East North Central

54

15

27

3

1.4

1.0

West North Central

62

10

21

6

1.4

1.0

South Atlantic

1

64

11

22

2

1.3

1.0

East South Central

58

19

20

1.3

1.0

West South Central

59

10

28

2

1.4

1.0

Mountain

65

12

20

3

1.3

1.0

Pacific

1

57

10

27

5

1.4

1.0

Footnotes:

1Includes participants in plans in which insurance equaled a multiple of earnings plus or minus a specified amount. Includes multiple of earnings not shown
separately.

2The percentile groupings are based on the average wage for each occupation surveyed, which may include workers both above and below the threshold. The
percentile values are based on the estimates published in the "National Compensation Survey: Occupational Earnings in the United States, 2008." See Technical
Note for more details.

NOTE: Because of rounding, sums of individual items may not equal totals. Dash indicates no workers in this category or data did not meet publication criteria. For
definitions of major plans, key provisions, and related terms, see the "Glossary of Employee Benefit Terms" at www.bls.gov/ncs/ebs/glossary20082009.htm.