Life insurance plans: Fixed multiple of earnings benefit formulas

Table 20. Life insurance plans: Fixed multiple of annual earnings benefit formulas, civilian workers,1
National Compensation Survey, March 2011

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

Characteristics

Multiple of annual earnings amounts2

Mean
multiple of
annual
earnings

Median
multiple of
annual
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

58

15

23

4

1.4

1.0

Worker characteristics

             

Management, professional, and related

1

54

15

25

5

1.4

1.0

    Management, business, and financial

1

54

15

26

5

1.4

1.0

    Professional and related

1

55

15

25

5

1.4

1.0

        Teachers

47

25

25

1.4

1.5

            Primary, secondary, and special education
             school teachers

47

28

23

2

1.4

        Registered nurses

69

11

15

1.3

1.0

Service

1

56

20

20

3

1.3

1.0

    Protective service

54

20

18

8

1.5

1.0

Sales and office

[3]

63

12

21

4

1.3

1.0

    Sales and related

73

10

14

1.2

1.0

    Office and administrative support

[3]

59

12

24

5

1.4

1.0

Natural resources, construction, and maintenance

2

59

14

23

3

1.3

1.0

    Construction, extraction, farming, fishing, and
     forestry

55

12

29

1.4

1.0

    Installation, maintenance, and repair

2

61

14

21

3

1.3

1.0

Production, transportation, and material moving

1

58

17

22

2

1.3

1.0

    Production

53

16

28

1.4

1.0

    Transportation and material moving

1

64

19

15

2

1.3

1.0

Full time

1

57

15

23

4

1.4

1.0

Part time

1

66

12

16

6

1.3

1.0

Union

1

62

17

15

5

1.3

1.0

Nonunion

1

57

14

24

4

1.4

1.0

Average wage within the following categories:4

             

    Lowest 25 percent

64

15

19

1.3

1.0

        Lowest 10 percent

59

1.4

1.0

    Second 25 percent

1

61

15

21

2

1.3

1.0

    Third 25 percent

1

58

15

22

5

1.4

1.0

    Highest 25 percent

1

54

14

26

5

1.4

1.0

        Highest 10 percent

1

50

15

28

6

1.5

1.0

Establishment characteristics

             

Goods-producing industries

1

49

15

29

6

1.4

Service-providing industries

1

59

15

22

4

1.4

1.0

    Education and health services

1

60

17

20

3

1.3

1.0

        Educational services

1

47

23

26

3

1.4

1.5

            Elementary and secondary schools

43

29

26

1

1.4

1.5

            Junior colleges, colleges, and universities

3

51

15

27

4

1.4

        Health care and social assistance

1

67

13

16

3

1.3

1.0

            Hospitals

1

72

12

12

3

1.2

1.0

    Public administration

54

24

17

1.4

1.0

1 to 99 workers

1

56

14

24

6

1.4

1.0

    1 to 49 workers

1

56

13

24

7

1.4

1.0

    50 to 99 workers

[3]

55

17

23

4

1.4

1.0

100 workers or more

1

59

15

22

3

1.4

1.0

    100 to 499 workers

[3]

61

14

22

3

1.3

1.0

    500 workers or more

1

57

16

23

3

1.4

1.0

Geographic areas

             

New England

1

64

12

17

5

1.3

1.0

Middle Atlantic

2

52

21

18

6

1.4

1.0

East North Central

57

13

25

1.4

1.0

West North Central

51

17

25

1.4

South Atlantic

59

15

23

1.3

1.0

East South Central

50

18

29

3

1.4

West South Central

59

12

26

1.4

1.0

Mountain

71

12

15

1.2

1.0

Pacific

1

60

11

22

5

1.4

1.0

1Includes workers in the private nonfarm economy except those in private households, and workers in the public sector, except the federal government. See
Technical Note for further explanation.

2Includes participants in plans in which insurance equaled a multiple of earnings plus or minus a specified amount.

3Less than 0.5 percent.

4The 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, 2010." 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/glossary20102011.htm.