Life insurance plans: Flat-dollar amount benefit formulas

Table 21. Life insurance plans: Flat-dollar amount benefit formulas,1 private industry
workers,  National Compensation Survey, March 2013

(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

$20,000

$25,000

$50,000

Worker characteristics

         

Management, professional, and related

10,000

15,000

25,000

50,000

50,000

    Management, business, and financial

10,000

15,000

25,000

50,000

50,000

    Professional and related

10,000

15,000

25,000

50,000

50,000

Service

10,000

10,000

15,000

40,000

    Protective service

10,000

25,000

25,000

Sales and office

10,000

10,000

20,000

25,000

50,000

    Sales and related

10,000

15,000

20,000

50,000

    Office and administrative support

10,000

15,000

20,000

25,000

50,000

Natural resources, construction, and maintenance

10,000

10,000

25,000

50,000

    Construction, extraction, farming, fishing, and
     forestry

10,000

20,000

25,000

50,000

    Installation, maintenance, and repair

10,000

12,000

25,000

50,000

Production, transportation, and material moving

10,000

10,000

20,000

25,000

50,000

    Production

10,000

15,000

20,000

30,000

50,000

    Transportation and material moving

10,000

10,000

20,000

25,000

50,000

Full time

10,000

10,000

20,000

27,000

50,000

Part time

5,000

10,000

17,500

25,000

Union

5,000

10,000

15,000

30,000

45,000

Nonunion

10,000

20,000

25,000

50,000

Average wage within the following categories:3

         

    Lowest 25 percent

5,000

10,000

15,000

20,000

25,000

        Lowest 10 percent

5,000

10,000

25,000

    Second 25 percent

10,000

10,000

25,000

50,000

    Third 25 percent

10,000

10,000

20,000

30,000

50,000

    Highest 25 percent

10,000

15,000

25,000

50,000

50,000

        Highest 10 percent

10,000

20,000

50,000

50,000

Establishment characteristics

         

Goods-producing industries

10,000

15,000

20,000

30,000

50,000

    Construction

10,000

10,000

20,000

25,000

50,000

    Manufacturing

10,000

15,000

20,000

35,000

50,000

Service-providing industries

10,000

10,000

20,000

25,000

50,000

    Trade, transportation, and utilities

10,000

15,000

25,000

50,000

        Wholesale trade

10,000

15,000

50,000

        Retail trade

5,000

10,000

20,000

25,000

        Transportation and warehousing

10,000

10,000

20,000

50,000

        Utilities

10,000

10,000

12,500

20,000

50,000

    Information

20,000

25,000

50,000

    Financial activities

10,000

15,000

50,000

50,000

        Finance and insurance

50,000

50,000

50,000

            Credit intermediation and related activities

15,000

50,000

50,000

            Insurance carriers and related activities

50,000

50,000

50,000

        Real estate and rental and leasing

10,000

50,000

    Professional and business services

10,000

15,000

25,000

50,000

        Professional and technical services

20,000

25,000

50,000

        Administrative and waste services

10,000

20,000

25,000

    Education and health services

10,000

10,000

15,000

25,000

50,000

        Educational services

10,000

10,000

50,000

            Junior colleges, colleges, and universities

10,000

10,000

50,000

50,000

        Healthcare and social assistance

10,000

10,000

15,000

25,000

50,000

    Leisure and hospitality

10,000

10,000

20,000

        Accommodation and food services

10,000

10,000

25,000

    Other services

10,000

10,000

15,000

25,000

1 to 99 workers

10,000

20,000

25,000

50,000

    1 to 49 workers

10,000

20,000

25,000

50,000

    50 to 99 workers

10,000

10,000

20,000

25,000

50,000

100 workers or more

10,000

10,000

20,000

30,000

50,000

    100 to 499 workers

10,000

10,000

20,000

25,000

50,000

    500 workers or more

10,000

20,000

45,000

50,000

Geographic areas

         

New England

10,000

25,000

50,000

50,000

Middle Atlantic

10,000

18,000

38,000

50,000

East North Central

10,000

20,000

25,000

50,000

West North Central

10,000

20,000

50,000

South Atlantic

10,000

20,000

25,000

50,000

East South Central

10,000

20,000

50,000

West South Central

15,000

20,000

30,000

50,000

Mountain

10,000

10,000

20,000

50,000

Pacific

10,000

10,000

15,000

30,000

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.

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 data from the National
Compensation Survey publication, "Employer Costs for
Employee& nbsp;Compensation - March 2013."

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/glossary20122013.htm.