Life insurance plans: Method of benefit payment

Table 18. Life insurance plans: Method of benefit payment, private industry workers, 
National Compensation Survey, March 2013

(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

74

2

22

1

[1]

    Management, business, and financial

76

2

21

2

[1]

    Professional and related

73

3

23

1

[1]

Service

48

48

2

    Protective service

42

56

Sales and office

63

2

32

2

[1]

    Sales and related

59

3

35

    Office and administrative support

66

2

31

1

[1]

Natural resources, construction, and maintenance

38

57

4

    Construction, extraction, farming, fishing, and
     forestry

17

77

5

    Installation, maintenance, and repair

51

44

4

Production, transportation, and material moving

46

1

47

5

[1]

    Production

45

1

47

7

[1]

    Transportation and material moving

48

46

3

Full time

61

2

35

2

[1]

Part time

58

34

4

Union

40

48

10

Nonunion

64

2

33

1

[1]

Average wage within the following categories:2

         

    Lowest 25 percent

46

52

2

        Lowest 10 percent

32

66

2

    Second 25 percent

55

2

40

3

[1]

    Third 25 percent

57

2

38

2

[1]

    Highest 25 percent

71

3

23

2

[1]

        Highest 10 percent

75

4

20

Establishment characteristics

         

Goods-producing industries

45

2

48

5

[1]

    Construction

17

80

    Manufacturing

52

1

40

6

[1]

Service-providing industries

65

2

31

2

[1]

    Trade, transportation, and utilities

56

3

37

        Wholesale trade

57

37

5

        Retail trade

52

5

39

        Transportation and warehousing

60

2

38

        Utilities

75

22

    Information

83

13

    Financial activities

78

2

19

        Finance and insurance

83

2

14

            Credit intermediation and related activities

88

1

9

            Insurance carriers and related activities

75

2

22

        Real estate and rental and leasing

51

46

    Professional and business services

69

2

28

        Professional and technical services

70

27

        Administrative and waste services

57

43

    Education and health services

65

1

32

1

[1]

        Educational services

66

2

30

            Junior colleges, colleges, and universities

73

2

23

        Healthcare and social assistance

65

32

1

    Leisure and hospitality

48

49

        Accommodation and food services

46

51

    Other services

45

51

1 to 99 workers

47

1

49

2

[1]

    1 to 49 workers

47

50

2

    50 to 99 workers

49

47

2

100 workers or more

68

2

26

3

[1]

    100 to 499 workers

63

2

33

2

[1]

    500 workers or more

74

3

19

3

[1]

Geographic areas

         

New England

72

2

26

Middle Atlantic

64

3

30

East North Central

51

43

4

West North Central

61

35

4

South Atlantic

63

33

2

East South Central

60

1

37

West South Central

60

35

2

Mountain

59

39

Pacific

61

3

33

2

[1]

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/glossary20122013.htm.

2Surveyed 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& nbsp;Compensation - March 2013."