Life insurance plans: Flat-dollar amount benefit formulas

Table 22. Life insurance plans: Flat-dollar amount benefit formulas,1 private industry
workers,  National Compensation Survey, March 2011

(Includes workers participating in life insurance plans with flat-dollar amount formulas)

Characteristics

Flat dollar amounts2

10th
percentile

25th
percentile

50th
percentile
(median)

75th
percentile

90th
percentile

All workers

$10,000

$10,000

$15,000

$25,000

$50,000

Worker characteristics

         

Management, professional, and related

10,000

15,000

20,000

50,000

50,000

    Management, business, and financial

10,000

15,000

25,000

50,000

50,000

Service

5,000

10,000

10,000

20,000

35,000

Sales and office

10,000

10,000

15,000

25,000

50,000

    Sales and related

5,000

10,000

15,000

25,000

50,000

    Office and administrative support

10,000

10,000

20,000

25,000

50,000

Natural resources, construction, and maintenance

10,000

10,000

15,000

25,000

50,000

    Construction, extraction, farming, fishing, and
     forestry

10,000

10,000

20,000

25,000

50,000

    Installation, maintenance, and repair

10,000

10,000

15,000

25,000

50,000

Production, transportation, and material moving

10,000

10,000

15,000

25,000

50,000

    Production

10,000

10,000

17,000

25,000

50,000

    Transportation and material moving

10,000

10,000

15,000

25,000

50,000

Full time

10,000

10,000

15,000

25,000

50,000

Part time

5,000

5,000

10,000

20,000

30,000

Union

5,000

10,000

15,000

26,000

46,000

Nonunion

10,000

10,000

15,000

25,000

50,000

Average wage within the following categories:3

         

    Lowest 25 percent

5,000

10,000

15,000

20,000

30,000

        Lowest 10 percent

5,000

10,000

10,000

15,000

25,000

    Second 25 percent

10,000

10,000

15,000

25,000

40,000

    Third 25 percent

10,000

10,000

20,000

25,000

50,000

    Highest 25 percent

10,000

15,000

25,000

50,000

50,000

Establishment characteristics

         

Goods-producing industries

10,000

10,000

20,000

25,000

50,000

    Construction

10,000

10,000

15,000

25,000

50,000

    Manufacturing

10,000

10,000

20,000

26,000

50,000

Service-providing industries

7,500

10,000

15,000

25,000

50,000

    Trade, transportation, and utilities

5,000

10,000

15,000

25,000

50,000

        Retail trade

5,000

10,000

10,000

20,000

30,000

        Transportation and warehousing

10,000

10,000

15,000

40,000

50,000

    Financial activities

10,000

15,000

25,000

50,000

50,000

        Finance and insurance

10,000

15,000

25,000

50,000

50,000

            Credit intermediation and related activities

10,000

15,000

25,000

50,000

50,000

            Insurance carriers and related activities

10,000

15,000

25,000

50,000

50,000

    Education and health services

5,000

10,000

15,000

25,000

50,000

        Health care and social assistance

5,000

10,000

15,000

20,000

50,000

    Leisure and hospitality

10,000

10,000

15,000

20,000

50,000

        Accommodation and food services

10,000

10,000

15,000

20,000

30,000

    Other services

10,000

10,000

15,000

25,000

50,000

1 to 99 workers

10,000

10,000

15,000

25,000

50,000

    1 to 49 workers

10,000

10,000

15,000

25,000

50,000

    50 to 99 workers

10,000

10,000

15,000

25,000

50,000

100 workers or more

5,000

10,000

15,000

25,000

50,000

    100 to 499 workers

7,500

10,000

15,000

25,000

50,000

    500 workers or more

5,000

10,000

15,000

30,000

50,000

Geographic areas

         

East North Central

7,500

10,000

15,000

25,000

50,000

South Atlantic

10,000

10,000

15,000

25,000

50,000

East South Central

10,000

10,000

15,000

25,000

50,000

West South Central

10,000

10,000

15,000

25,000

50,000

Mountain

10,000

10,000

15,000

25,000

50,000

Pacific

6,000

10,000

15,000

25,000

50,000

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.

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, 2010." See Technical Note for more details.

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&n bsp;workers receive the same or less
than the amount shown. The remaining percentiles follow the
same logic.


NOTE: For definitions of major plans, key provisions, and
related terms, see the "Glossary of Employee Benefit Terms" at
www.bls.gov/ncs/ebs/glossary20102011.htm.