Life insurance plans: Flat-dollar amount benefit formulas Standard Errors

Table 21. Standard errors for life insurance plans: Flat-dollar amount benefit formulas,1
private industry workers,  National Compensation Survey, March 2010

Characteristics

Flat dollar amounts2

10th
percentile

25th
percentile

50th
percentile
(median)

75th
percentile

90th
percentile

All workers

$2,131.78

$0.00

$0.00

$0.00

$0.00

Worker characteristics

 

 

 

 

 

Management, professional, and related

1,039.09

3,980.93

624.82

0.00

0.00

    Management, business, and financial

0.00

5,155.95

5,999.17

3,826.23

0.00

Service

0.00

0.00

1,408.01

0.00

6,356.60

Sales and office

1,741.18

0.00

4,109.48

0.00

0.00

    Sales and related

0.00

0.00

0.00

7,964.92

0.00

    Office and administrative support

0.00

0.00

0.00

3,787.77

0.00

Natural resources, construction, and maintenance

0.00

0.00

781.02

0.00

0.00

    Construction, extraction, farming, fishing, and
     forestry

2,078.17

0.00

4,132.80

1,781.01

0.00

    Installation, maintenance, and repair

0.00

0.00

0.00

156.20

4,991.23

Production, transportation, and material moving

1,698.62

0.00

0.00

0.00

1,913.11

    Production

1,171.54

0.00

4,481.21

732.67

2,807.35

    Transportation and material moving

3,116.28

0.00

0.00

468.61

3,745.66

Full time

0.00

0.00

2,245.02

156.20

0.00

Part time

0.00

0.00

390.51

4,986.34

3,623.15

Union

0.00

1,271.42

1,126.41

1,913.11

6,955.95

Nonunion

0.00

0.00

468.61

0.00

0.00

Average wage within the following categories:3

 

 

 

 

 

    Lowest 25 percent

0.00

0.00

4,037.23

0.00

3,942.44

    Second 25 percent

2,740.27

0.00

0.00

1,101.77

8,555.70

    Third 25 percent

0.00

0.00

796.49

3,967.88

0.00

    Highest 25 percent

541.11

1,290.47

3,719.52

0.00

0.00

Establishment characteristics

 

 

 

 

 

Goods-producing industries

0.00

0.00

781.02

413.28

0.00

    Construction

1,723.57

0.00

0.00

0.00

0.00

    Manufacturing

0.00

0.00

156.20

1,774.15

0.00

Service-providing industries

1,816.62

0.00

0.00

0.00

0.00

    Trade, transportation, and utilities

1,027.28

0.00

0.00

5,836.30

4,750.79

        Wholesale trade

0.00

312.41

6,191.19

0.00

12,223.98

        Retail trade

0.00

0.00

2,243.32

0.00

2,841.90

        Transportation and warehousing

3,600.35

0.00

552.27

11,678.87

0.00

        Utilities

0.00

0.00

4,400.85

16,792.04

8,555.70

    Financial activities

0.00

4,393.22

0.00

0.00

0.00

        Finance and insurance

0.00

2,209.07

12,598.49

0.00

0.00

            Insurance carriers and related activities

3,113.34

1,774.15

10,449.40

0.00

2,209.07

    Education and health services

1,843.29

0.00

0.00

6,546.18

0.00

        Educational services

0.00

0.00

2,705.55

12,023.73

0.00

        Health care and social assistance

1,189.62

0.00

0.00

3,905.12

0.00

    Leisure and hospitality

1,036.15

0.00

3,826.23

2,816.03

9,565.56

        Accommodation and food services

1,397.14

0.00

4,348.56

3,982.46

10,153.32

1 to 99 workers

0.00

0.00

0.00

0.00

0.00

    1 to 49 workers

441.81

0.00

0.00

0.00

0.00

    50 to 99 workers

1,126.41

0.00

781.02

0.00

2,576.20

100 workers or more

855.57

0.00

5,504.01

2,066.40

0.00

    100 to 499 workers

2,386.92

0.00

6,317.26

644.05

0.00

    500 workers or more

0.00

0.00

4,521.86

4,360.47

0.00

Geographic areas

 

 

 

 

 

East North Central

3,601.19

0.00

2,712.59

0.00

0.00

South Atlantic

0.00

0.00

6,125.07

5,467.17

0.00

East South Central

667.31

0.00

0.00

897.33

6,468.85

West South Central

312.41

0.00

0.00

4,760.85

12,093.54

Mountain

0.00

0.00

2,922.33

0.00

0.00

Pacific

0.00

0.00

0.00

0.00

0.00

Footnotes:

1Includes participants in plans providing a fixed benefit amount. Dollar amounts can be a flat amount or can vary by the
employee’s earnings or length of service.

2The 10th, 25th, 50th, 75th, and 90th percentiles designate position within each published series. For example, at the 50th
percentile or median, half of participating workers receive the same as or more than the amount shown, and half receive the same as
or less than the amount shown. At the 25th percentile, one-fourth of participating workers receive the same or less than the amount
shown. The remaining percentiles follow the same logic.

3The 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, 2009." See Technical Note for more details.


NOTE: For definitions of major plans, key provisions, and related terms, see the "Glossary of Employee Benefit Terms" at
www.bls.gov/ncs/ebs/glossary20092010.htm.