Life insurance plans: Maximum benefit amount

Table 20. Life insurance plans: Maximum benefit amounts, private industry workers,  National
Compensation Survey, March 2013

(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

77

$50,000

$70,000

$250,000

$500,000

$1,000,000

23

Worker characteristics

             

Management, professional, and related

79

50,000

100,000

300,000

750,000

1,000,000

21

    Management, business, and financial

82

50,000

100,000

300,000

750,000

18

    Professional and related

77

50,000

100,000

300,000

750,000

1,000,000

23

Service

75

50,000

50,000

200,000

500,000

1,000,000

25

    Protective service

49

50,000

50,000

1,000,000

51

Sales and office

81

50,000

50,000

200,000

500,000

1,000,000

19

    Sales and related

84

50,000

50,000

500,000

1,000,000

16

    Office and administrative support

80

50,000

200,000

500,000

1,500,000

20

Natural resources, construction, and maintenance

70

50,000

100,000

200,000

2,000,000

30

    Construction, extraction, farming, fishing, and
     forestry

66

50,000

100,000

170,000

1,000,000

34

    Installation, maintenance, and repair

71

50,000

250,000

1,000,000

2,000,000

29

Production, transportation, and material moving

69

50,000

200,000

500,000

1,000,000

31

    Production

65

50,000

100,000

250,000

500,000

1,000,000

35

    Transportation and material moving

73

50,000

100,000

400,000

27

Full time

78

50,000

70,000

250,000

550,000

1,000,000

22

Part time

71

50,000

500,000

1,000,000

29

Union

70

50,000

70,000

100,000

500,000

30

Nonunion

78

50,000

250,000

600,000

1,000,000

22

Average wage within the following categories:2

             

    Lowest 25 percent

73

50,000

50,000

200,000

500,000

1,000,000

27

        Lowest 10 percent

80

50,000

50,000

20

    Second 25 percent

79

50,000

50,000

150,000

500,000

1,000,000

21

    Third 25 percent

77

50,000

75,000

250,000

500,000

1,000,000

23

    Highest 25 percent

78

50,000

100,000

300,000

750,000

1,500,000

22

        Highest 10 percent

80

50,000

350,000

800,000

20

Establishment characteristics

             

Goods-producing industries

68

50,000

100,000

300,000

700,000

32

    Construction

82

50,000

500,000

18

    Manufacturing

68

50,000

300,000

750,000

32

Service-providing industries

79

50,000

50,000

200,000

500,000

1,000,000

21

    Trade, transportation, and utilities

79

50,000

50,000

100,000

500,000

900,000

21

        Wholesale trade

78

50,000

200,000

500,000

1,000,000

22

        Retail trade

81

50,000

50,000

50,000

500,000

19

        Utilities

56

50,000

750,000

1,000,000

44

    Information

68

50,000

200,000

2,000,000

2,000,000

32

    Financial activities

87

50,000

100,000

250,000

800,000

2,000,000

13

        Finance and insurance

86

50,000

100,000

250,000

800,000

2,000,000

14

            Credit intermediation and related activities

89

50,000

100,000

245,000

1,000,000

2,000,000

11

            Insurance carriers and related activities

79

50,000

100,000

500,000

1,000,000

21

    Professional and business services

78

50,000

350,000

1,000,000

1,000,000

22

        Professional and technical services

86

50,000

750,000

1,000,000

14

        Administrative and waste services

65

50,000

35

    Education and health services

76

50,000

250,000

500,000

1,000,000

24

        Educational services

85

50,000

50,000

200,000

400,000

500,000

15

            Junior colleges, colleges, and universities

84

50,000

50,000

200,000

550,000

16

        Healthcare and social assistance

75

50,000

250,000

500,000

1,000,000

25

    Other services

77

50,000

420,000

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

21

    50 to 99 workers

76

50,000

250,000

500,000

24

100 workers or more

77

50,000

250,000

600,000

1,000,000

23

    100 to 499 workers

82

50,000

50,000

200,000

500,000

1,000,000

18

    500 workers or more

73

50,000

100,000

350,000

1,000,000

1,500,000

27

Geographic areas

             

New England

74

50,000

500,000

1,000,000

26

Middle Atlantic

79

50,000

250,000

500,000

1,000,000

21

East North Central

68

50,000

100,000

300,000

600,000

1,000,000

32

West North Central

69

50,000

50,000

200,000

500,000

1,000,000

31

South Atlantic

81

50,000

250,000

750,000

1,500,000

19

East South Central

80

50,000

200,000

20

West South Central

80

50,000

250,000

750,000

20

Mountain

84

50,000

200,000

1,000,000

16

Pacific

79

50,000

50,000

200,000

500,000

1,000,000

21

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/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 Compensation - March
2013."