Life insurance plans: Fixed multiple of annual earnings benefit formulas

Table 19. Life insurance plans: Fixed multiple of annual earnings benefit formulas, private industry
workers, March 2018
(All workers with fixed multiple of annual earnings formula life insurance coverage = 100 percent)
Characteristics Multiple of annual earnings amounts1 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
66
8
22
4
1.3
1.0
Worker characteristics
             
Management, professional, and related
[2]
63
7
25
4
1.4
1.0
    Management, business, and financial
1
59
7
27
6
1.4
1.0
    Professional and related
65
8
23
1.3
1.0
Service
79
5
15
1.2
1.0
    Protective service
90
5
1.1
1.0
Sales and office
1
67
8
20
4
1.3
1.0
    Sales and related
72
9
18
1.3
1.0
    Office and administrative support
1
65
8
21
5
1.3
1.0
Natural resources, construction, and
 maintenance:
  Construction, extraction, farming, fishing, and
  forestry
72
14
1.2
1.0
Production, transportation, and material moving
65
10
22
1.3
1.0
    Production
58
7
31
1.4
1.0
    Transportation and material moving
71
13
14
1.2
1.0
Full time
1
66
8
22
4
1.3
1.0
Part time
73
6
20
1.2
1.0
Union
75
4
17
1.3
1.0
Nonunion
1
65
8
23
4
1.3
1.0
Average wage within the following categories:3
             
    Lowest 25 percent
75
7
16
1.2
1.0
        Lowest 10 percent
77
4
1.2
1.0
    Second 25 percent
[2]
73
8
15
4
1.3
1.0
    Third 25 percent
1
63
9
23
4
1.4
1.0
    Highest 25 percent
[2]
62
7
26
4
1.4
1.0
        Highest 10 percent
59
7
29
1.4
1.0
Establishment characteristics
             
Goods-producing industries:
      Construction
63
1.4
1.0
Service-providing industries
1
69
8
20
3
1.3
1.0
    Trade, transportation, and utilities
68
12
18
1.3
1.0
        Wholesale trade
54
20
23
1.4
1.0
        Retail trade
78
7
15
1.2
1.0
        Transportation and warehousing
65
17
2
1.3
1.0
        Utilities
63
29
3
1.4
1.0
    Information
59
25
8
1.4
1.0
    Financial activities
1
66
6
23
5
1.3
1.0
        Finance and insurance
1
65
5
23
5
1.4
1.0
            Credit intermediation and related activities
67
20
7
1.4
1.0
            Insurance carriers and related activities
63
28
4
1.4
1.0
        Real estate and rental and leasing
72
1.2
1.0
    Professional and business services
65
6
23
5
1.3
1.0
        Professional and technical services
64
7
24
5
1.4
1.0
        Administrative and waste services
63
6
25
1.4
1.0
    Education and health services
74
7
15
1.2
1.0
        Educational services
59
9
23
1.4
1.0
            Junior colleges, colleges, and universities
56
11
22
1.3
1.0
        Health care and social assistance
77
7
14
1.2
1.0
    Leisure and hospitality
80
1.2
1.0
        Accommodation and food services
93
1.0
1.0
    Other services
51
38
1.5
1 to 99 workers
1
63
10
22
4
1.3
1.0
    1 to 49 workers
1
63
10
22
4
1.3
1.0
    50 to 99 workers
62
11
21
1.3
1.0
100 workers or more
67
7
22
1.3
1.0
    100 to 499 workers
66
7
22
1.3
1.0
    500 workers or more
68
7
22
1.3
1.0
Geographic areas
             
Northeast
65
10
22
1.3
1.0
    New England
62
12
23
1.3
1.0
    Middle Atlantic
66
9
22
1.3
1.0
South
1
66
7
23
4
1.3
1.0
    South Atlantic
2
68
8
20
3
1.3
1.0
    East South Central
67
6
21
6
1.4
1.0
    West South Central
60
8
27
1.4
1.0
Midwest
69
8
19
1.3
1.0
    East North Central
70
9
18
3
1.3
1.0
    West North Central
67
21
5
1.3
1.0
West
[2]
64
6
24
5
1.4
1.0
    Mountain
73
6
19
1.3
1.0
    Pacific
59
6
27
1.4
1.0
1Includes participants in plans in which insurance equaled a multiple of earnings plus or minus a specified amount.
2Less than 0.5.
3Surveyed 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 wage data for March 2018.

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/national-compensation-survey-glossary-of-employee-benefit-terms.htm.

Source: U.S. Bureau of Labor Statistics, National Compensation Survey.