Life insurance plans: Method of benefit payment

Table 18. Life insurance plans: Method of benefit payment, private industry workers, 
National Compensation Survey, March 2012

(All workers with basic life insurance coverage = 100 percent)

Characteristics

Basic life insurance method of payment

Fixed
multiple of
annual
earnings

Variable
multiple of
annual
earnings

Flat dollar
amount

Variable
dollar
amount

Other

All workers

60

2

35

2

1

Worker characteristics

         

Management, professional, and related

73

3

23

1

1

    Management, business, and financial

75

2

20

1

1

    Professional and related

71

3

24

1

1

Service

47

1

49

2

[1]

Sales and office

66

2

30

1

1

    Sales and related

62

3

32

2

1

    Office and administrative support

67

2

29

1

[1]

Natural resources, construction, and maintenance

37

57

4

    Construction, extraction, farming, fishing, and
     forestry

15

78

5

    Installation, maintenance, and repair

51

44

3

Production, transportation, and material moving

46

1

50

3

1

    Production

46

[1]

49

4

1

    Transportation and material moving

45

1

51

2

[1]

Full time

60

2

35

2

1

Union

38

1

53

7

1

Nonunion

64

2

33

1

1

Average wage within the following categories:2

         

    Lowest 25 percent

42

55

2

        Lowest 10 percent

30

67

1

    Second 25 percent

57

1

39

2

[1]

    Third 25 percent

58

2

38

2

1

    Highest 25 percent

69

3

25

2

1

        Highest 10 percent

72

4

21

1

1

Establishment characteristics

         

Goods-producing industries

45

2

48

3

1

    Construction

16

81

2

    Manufacturing

52

2

42

4

1

Service-providing industries

64

2

32

1

1

    Trade, transportation, and utilities

56

2

38

3

1

        Wholesale trade

56

39

4

        Retail trade

56

3

37

3

1

        Transportation and warehousing

55

2

43

        Utilities

77

21

    Information

83

13

1

    Financial activities

80

2

17

1

[1]

        Finance and insurance

85

2

12

1

[1]

            Credit intermediation and related activities

87

2

9

            Insurance carriers and related activities

80

1

17

        Real estate and rental and leasing

57

41

    Professional and business services

68

2

29

        Professional and technical services

68

29

        Administrative and waste services

58

42

    Education and health services

64

2

32

1

1

        Educational services

65

2

30

2

[1]

            Junior colleges, colleges, and universities

74

3

22

1

1

        Healthcare and social assistance

64

2

33

1

1

    Leisure and hospitality

44

52

        Accommodation and food services

44

52

    Other services

45

51

1 to 99 workers

48

1

48

2

[1]

    1 to 49 workers

48

2

49

1

[1]

    50 to 99 workers

50

47

2

100 workers or more

67

2

27

2

1

    100 to 499 workers

62

1

33

2

1

    500 workers or more

73

4

20

2

1

Geographic areas

         

New England

71

2

25

Middle Atlantic

63

3

31

2

1

East North Central

51

2

44

3

[1]

West North Central

58

1

39

2

1

South Atlantic

63

1

33

2

[1]

East South Central

61

1

36

West South Central

64

1

32

2

1

Mountain

58

41

Pacific

59

3

35

1Less than 0.5.


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.

2The 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.