Life insurance plans: Maximum benefit amount

Table 20. Life insurance plans: Maximum benefit amount, private industry workers,  National
Compensation Survey, March 2012

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

Characteristics

With
maximum
benefit
amount

Maximum benefit amount1

With no
maximum
benefit
amount

10th
percentile

25th
percentile

50th
percentile
(median)

75th
percentile

90th
percentile

All workers

76

$50,000

$60,000

$250,000

$500,000

$1,000,000

24

Worker characteristics

             

Management, professional, and related

78

50,000

100,000

300,000

750,000

1,000,000

22

    Management, business, and financial

81

50,000

100,000

250,000

700,000

19

    Professional and related

77

50,000

300,000

750,000

1,000,000

23

Service

73

50,000

50,000

200,000

500,000

1,000,000

27

Sales and office

79

50,000

50,000

200,000

500,000

1,000,000

21

    Sales and related

85

50,000

50,000

500,000

1,000,000

15

    Office and administrative support

77

50,000

200,000

500,000

1,500,000

23

Natural resources, construction, and maintenance

72

50,000

250,000

2,000,000

28

    Construction, extraction, farming, fishing, and
     forestry

65

50,000

750,000

35

    Installation, maintenance, and repair

74

50,000

300,000

1,000,000

2,000,000

26

Production, transportation, and material moving

63

50,000

70,000

250,000

500,000

1,000,000

37

    Production

67

50,000

100,000

250,000

500,000

1,000,000

33

    Transportation and material moving

58

50,000

50,000

200,000

500,000

42

Full time

77

50,000

250,000

500,000

1,000,000

23

Union

58

50,000

70,000

250,000

2,000,000

42

Nonunion

77

50,000

250,000

500,000

1,000,000

23

Average wage within the following categories:2

             

    Lowest 25 percent

69

50,000

50,000

200,000

500,000

1,000,000

31

        Lowest 10 percent

76

50,000

50,000

500,000

24

    Second 25 percent

75

50,000

50,000

150,000

500,000

1,000,000

25

    Third 25 percent

76

50,000

75,000

200,000

500,000

1,000,000

24

    Highest 25 percent

77

50,000

100,000

300,000

750,000

1,500,000

23

        Highest 10 percent

79

50,000

100,000

400,000

21

Establishment characteristics

             

Goods-producing industries

67

50,000

100,000

300,000

750,000

33

    Manufacturing

66

50,000

100,000

300,000

34

Service-providing industries

77

50,000

50,000

245,000

500,000

1,000,000

23

    Trade, transportation, and utilities

74

50,000

50,000

100,000

500,000

750,000

26

        Wholesale trade

78

50,000

200,000

500,000

1,000,000

22

        Retail trade

80

50,000

50,000

50,000

750,000

20

        Transportation and warehousing

63

50,000

50,000

500,000

37

        Utilities

53

50,000

750,000

1,000,000

47

    Information

68

100,000

2,000,000

2,000,000

32

    Financial activities

84

50,000

100,000

250,000

1,000,000

2,000,000

16

        Finance and insurance

83

50,000

100,000

250,000

1,000,000

2,000,000

17

            Credit intermediation and related activities

88

50,000

100,000

300,000

1,000,000

2,000,000

12

            Insurance carriers and related activities

71

50,000

100,000

1,000,000

1,000,000

29

    Professional and business services

78

50,000

300,000

750,000

1,000,000

22

        Professional and technical services

86

50,000

300,000

600,000

1,000,000

14

        Administrative and waste services

65

50,000

300,000

35

    Education and health services

76

50,000

250,000

500,000

1,000,000

24

        Educational services

82

50,000

50,000

200,000

400,000

500,000

18

            Junior colleges, colleges, and universities

80

50,000

50,000

200,000

20

        Healthcare and social assistance

75

50,000

250,000

500,000

1,000,000

25

    Other services

77

50,000

200,000

400,000

500,000

23

1 to 99 workers

78

50,000

200,000

500,000

1,000,000

22

    1 to 49 workers

79

50,000

200,000

500,000

1,000,000

21

    50 to 99 workers

78

50,000

220,000

500,000

22

100 workers or more

75

50,000

250,000

700,000

1,000,000

25

    100 to 499 workers

79

50,000

50,000

200,000

500,000

1,000,000

21

    500 workers or more

71

50,000

100,000

400,000

1,000,000

2,000,000

29

Geographic areas

             

New England

79

50,000

200,000

500,000

21

Middle Atlantic

79

50,000

200,000

500,000

1,000,000

21

East North Central

66

50,000

100,000

250,000

600,000

1,000,000

34

West North Central

69

50,000

250,000

700,000

1,000,000

31

South Atlantic

80

50,000

250,000

1,500,000

20

East South Central

77

50,000

300,000

600,000

23

West South Central

79

50,000

250,000

750,000

21

Mountain

76

50,000

250,000

1,000,000

24

Pacific

75

50,000

50,000

245,000

500,000

1,000,000

25

1The 10th, 25th, 50th, 75th, and 90th percentiles designate position within
each published series. For example, at the 50th percentile or median, half of
the participating workers receive the same as or more than the benefit shown,
and half receive the same as or less than the benefit shown. At the 25th
percentile, one-fourth of the participating workers re ceive the same or less
than the benefit shown. The remaining percentiles follow the same logic.


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.