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 2013

(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

61

13

22

4

1.3

1.0

Worker characteristics

             

Management, professional, and related

1

58

13

24

5

1.4

1.0

    Management, business, and financial

1

57

10

26

5

1.4

1.0

    Professional and related

1

58

14

23

4

1.4

1.0

        Teachers

49

24

23

1.4

            Primary, secondary, and special education
             school teachers

48

28

23

2

1.4

        Registered nurses

75

10

10

1.2

1.0

Service

1

63

14

19

3

1.3

1.0

    Protective service

57

19

17

7

1.4

1.0

Sales and office

[3]

66

10

20

4

1.3

1.0

    Sales and related

78

8

11

3

1.2

1.0

    Office and administrative support

1

61

11

24

4

1.4

1.0

Natural resources, construction, and maintenance

1

61

15

20

3

1.3

1.0

    Construction, extraction, farming, fishing, and
     forestry

58

16

23

2

1.4

1.0

    Installation, maintenance, and repair

1

61

15

19

3

1.3

1.0

Production, transportation, and material moving

[3]

64

15

18

2

1.3

1.0

    Production

59

14

25

1.4

1.0

    Transportation and material moving

1

69

16

12

2

1.2

1.0

Full time

1

61

13

22

4

1.4

1.0

Part time

1

74

10

9

6

1.3

1.0

Union

1

64

17

13

5

1.3

1.0

Nonunion

[3]

61

12

23

4

1.4

1.0

Average wage within the following categories:4

             

    Lowest 25 percent

68

11

18

1.3

1.0

        Lowest 10 percent

70

1.3

1.0

    Second 25 percent

1

66

13

19

2

1.3

1.0

    Third 25 percent

1

61

13

22

3

1.3

1.0

    Highest 25 percent

1

58

13

24

5

1.4

1.0

        Highest 10 percent

1

54

13

27

6

1.4

1.0

Establishment characteristics

             

Goods-producing industries

53

13

28

1.4

1.0

Service-providing industries

1

63

13

20

4

1.3

1.0

    Education and health services

1

62

15

19

3

1.3

1.0

        Educational services

1

48

21

26

4

1.4

            Elementary and secondary schools

45

28

25

2

1.4

1.5

            Junior colleges, colleges, and universities

2

51

14

28

4

1.4

        Healthcare and social assistance

1

71

11

15

2

1.2

1.0

            Hospitals

2

73

12

11

1

1.2

1.0

    Public administration

59

18

17

1.4

1.0

1 to 99 workers

61

12

21

1.4

1.0

    1 to 49 workers

66

10

18

1.4

1.0

    50 to 99 workers

53

16

27

1.4

1.0

100 workers or more

1

61

13

22

3

1.3

1.0

    100 to 499 workers

63

12

22

1.4

1.0

    500 workers or more

1

60

14

21

3

1.3

1.0

Geographic areas

             

New England

1

65

13

17

4

1.3

1.0

Middle Atlantic

1

56

18

19

6

1.4

1.0

East North Central

60

14

24

1.4

1.0

West North Central

54

17

23

1.4

1.0

South Atlantic

64

11

22

1.3

1.0

East South Central

56

9

30

1.4

1.0

West South Central

63

11

23

1.3

1.0

Mountain

75

12

12

1.2

1.0

Pacific

63

7

23

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.

4Surveyed occupations are classified into wage categories based on the average wage for the occupation, which may include workers with earnings both
above and below the threshold.  The categories were formed using percentile estimates generated using data from the National Compensation Survey publication,
"Employer Costs for Employee Compensation - March 2013."


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/glossary20122013.htm.