Life insurance plans: Fixed multiple of earnings benefit formulas

Table 19. Life insurance plans: Fixed multiple of annual earnings benefit formulas, civilian workers,1
National Compensation Survey, March 2012

(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

59

13

23

4

1.4

1.0

Worker characteristics

             

Management, professional, and related

1

56

12

26

5

1.4

1.0

    Management, business, and financial

1

56

11

27

6

1.4

1.0

    Professional and related

[3]

56

13

25

5

1.4

1.0

        Teachers

49

24

24

1.4

            Primary, secondary, and special education
             school teachers

47

27

24

2

1.4

1.5

        Registered nurses

71

10

15

1.3

1.0

Service

1

60

16

21

2

1.3

1.0

    Protective service

56

19

8

1.5

1.0

Sales and office

[3]

65

9

22

4

1.3

1.0

    Sales and related

75

8

13

1.2

1.0

    Office and administrative support

1

60

10

25

4

1.4

1.0

Natural resources, construction, and maintenance

2

56

15

24

3

1.4

1.0

    Construction, extraction, farming, fishing, and
     forestry

54

12

27

1.4

1.0

    Installation, maintenance, and repair

2

56

16

23

3

1.4

1.0

Production, transportation, and material moving

1

60

16

21

2

1.3

1.0

    Production

55

15

27

1.4

1.0

    Transportation and material moving

66

18

14

1.3

1.0

Full time

1

59

13

24

4

1.4

1.0

Part time

1

70

9

15

6

1.3

1.0

Union

1

61

18

15

5

1.3

1.0

Nonunion

1

59

12

25

4

1.4

1.0

Average wage within the following categories:4

             

    Lowest 25 percent

64

13

20

1.3

1.0

        Lowest 10 percent

77

6

1.1

1.0

    Second 25 percent

1

64

12

21

2

1.3

1.0

    Third 25 percent

1

59

12

24

4

1.4

1.0

    Highest 25 percent

1

56

13

25

5

1.4

1.0

        Highest 10 percent

1

53

13

27

6

1.4

1.0

Establishment characteristics

             

Goods-producing industries

1

51

14

29

5

1.4

1.0

Service-providing industries

1

61

12

23

4

1.4

1.0

    Education and health services

1

61

14

21

3

1.3

1.0

        Educational services

1

47

22

27

3

1.4

1.5

            Elementary and secondary schools

44

28

27

1

1.4

1.5

            Junior colleges, colleges, and universities

2

52

15

27

4

1.4

        Healthcare and social assistance

1

69

10

18

2

1.3

1.0

            Hospitals

1

73

11

13

2

1.2

1.0

    Public administration

57

19

17

1.4

1.0

1 to 99 workers

1

57

12

25

6

1.4

1.0

    1 to 49 workers

61

10

21

1.4

1.0

    50 to 99 workers

49

14

32

1.5

100 workers or more

1

61

13

23

3

1.3

1.0

    100 to 499 workers

62

11

23

1.3

1.0

    500 workers or more

1

59

14

23

3

1.3

1.0

Geographic areas

             

New England

1

62

13

20

5

1.4

1.0

Middle Atlantic

1

55

17

20

6

1.4

1.0

East North Central

57

13

26

1.4

1.0

West North Central

53

15

24

1.5

South Atlantic

61

12

24

1.3

1.0

East South Central

53

9

33

1.5

West South Central

62

11

24

1.3

1.0

Mountain

73

10

15

1.2

1.0

Pacific

1

61

9

24

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.

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.

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


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/glossary20112012.htm.

3Less than 0.5.