Life insurance plans: Flat-dollar amount benefit formulas Data Table

Table 21. Life insurance plans: Flat-dollar amount benefit formulas,1 private industry
workers,  National Compensation Survey, March 2010

(Includes workers participating in life insurance plans with flat-dollar amount formulas)

Characteristics

Flat dollar amounts2

10th
percentile

25th
percentile

50th
percentile
(median)

75th
percentile

90th
percentile

All workers

$7,500

$10,000

$15,000

$25,000

$50,000

Worker characteristics

 

 

 

 

 

Management, professional, and related

10,000

10,000

20,000

50,000

50,000

    Management, business, and financial

10,000

15,000

20,000

50,000

50,000

Service

5,000

10,000

10,000

20,000

35,000

Sales and office

10,000

10,000

15,000

25,000

50,000

    Sales and related

5,000

10,000

15,000

20,000

50,000

    Office and administrative support

10,000

10,000

20,000

30,000

50,000

Natural resources, construction, and maintenance

10,000

10,000

15,000

25,000

50,000

    Construction, extraction, farming, fishing, and
     forestry

9,000

10,000

20,000

25,000

50,000

    Installation, maintenance, and repair

10,000

10,000

15,000

25,000

50,000

Production, transportation, and material moving

10,000

10,000

15,000

25,000

50,000

    Production

10,000

10,000

20,000

25,000

50,000

    Transportation and material moving

8,000

10,000

15,000

25,000

50,000

Full time

10,000

10,000

15,000

25,000

50,000

Part time

5,000

5,000

10,000

18,000

25,000

Union

5,000

10,000

15,000

26,000

50,000

Nonunion

10,000

10,000

15,000

25,000

50,000

Average wage within the following categories:3

 

 

 

 

 

    Lowest 25 percent

5,000

10,000

10,000

20,000

25,000

    Second 25 percent

10,000

10,000

15,000

25,000

50,000

    Third 25 percent

10,000

10,000

20,000

26,000

50,000

    Highest 25 percent

10,000

10,000

20,000

50,000

50,000

Establishment characteristics

 

 

 

 

 

Goods-producing industries

10,000

10,000

20,000

25,000

50,000

    Construction

10,000

10,000

15,000

25,000

50,000

    Manufacturing

10,000

10,000

20,000

25,000

50,000

Service-providing industries

6,000

10,000

15,000

25,000

50,000

    Trade, transportation, and utilities

5,000

10,000

15,000

21,000

50,000

        Wholesale trade

10,000

10,000

15,000

25,000

50,000

        Retail trade

5,000

10,000

10,000

20,000

30,000

        Transportation and warehousing

7,500

10,000

15,000

25,000

50,000

        Utilities

10,000

10,000

12,500

45,000

50,000

    Financial activities

10,000

15,000

25,000

50,000

50,000

        Finance and insurance

10,000

15,000

30,000

50,000

50,000

            Insurance carriers and related activities

10,000

15,000

25,000

50,000

50,000

    Education and health services

5,000

10,000

15,000

25,000

50,000

        Educational services

10,000

15,000

25,000

50,000

50,000

        Health care and social assistance

5,000

10,000

15,000

25,000

50,000

    Leisure and hospitality

10,000

10,000

15,000

20,000

35,000

        Accommodation and food services

10,000

10,000

15,000

20,000

35,000

1 to 99 workers

10,000

10,000

15,000

25,000

50,000

    1 to 49 workers

10,000

10,000

15,000

25,000

50,000

    50 to 99 workers

10,000

10,000

15,000

25,000

50,000

100 workers or more

5,000

10,000

15,000

25,000

50,000

    100 to 499 workers

7,500

10,000

15,000

25,000

50,000

    500 workers or more

5,000

10,000

15,000

30,000

50,000

Geographic areas

 

 

 

 

 

East North Central

7,500

10,000

15,000

25,000

50,000

South Atlantic

10,000

10,000

15,000

25,000

50,000

East South Central

10,000

10,000

15,000

25,000

50,000

West South Central

10,000

10,000

15,000

25,000

45,000

Mountain

10,000

10,000

15,000

25,000

50,000

Pacific

5,000

10,000

15,000

25,000

50,000

Footnotes:

1Includes participants in plans providing a fixed benefit amount. Dollar amounts can be a flat amount or can vary by the
employee’s earnings or length of service.

2The 10th, 25th, 50th, 75th, and 90th percentiles designate position within each published series. For example, at the 50th
percentile or median, half of participating workers receive the same as or more than the amount shown, and half receive the same as
or less than the amount shown. At the 25th percentile, one-fourth of participating workers receive the same or less than the amount
shown. The remaining percentiles follow the same logic.

3The categories are based on the average wage for each occupation surveyed, which may include workers with earnings both
above and below the threshold. The average wages are based on the estimates published in the "National Compensation Survey:
Occupational Earnings in the United States, 2009." See Technical Note for more details.


NOTE: For definitions of major plans, key provisions, and related terms, see the "Glossary of Employee Benefit Terms" at
www.bls.gov/ncs/ebs/glossary20092010.htm.