Table 15. Life insurance plans: Fixed multiple of earnings benefit formulas, private industry workers,
National Compensation Survey, March 2008

(All workers with fixed multiple of earnings formula life insurance coverage = 100 percent)

Characteristics

Mean
multiple of
earnings

Median
multiple of
earnings

Multiple of earnings amounts1

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

1.4

1.0

1

57

13

25

4

Worker characteristics

Management, professional, and related

1.4

1.0

1

52

14

28

5

    Management, business, and financial

1.5

1

49

15

29

6

    Professional and related

1.4

1.0

1

54

13

28

4

Service

1.3

1.0

2

59

19

19

1

Sales and office

1.3

1.0

1

62

10

23

4

    Sales and related

1.3

1.0

72

7

17

3

    Office and administrative support

1.4

1.0

1

57

11

26

4

Natural resources, construction, and maintenance

1.3

1.0

1

63

7

27

2

    Construction, extraction, farming, fishing, and
     forestry

1.5

48

6

45

    Installation, maintenance, and repair

1.3

1.0

1

67

7

22

3

Production, transportation, and material moving

1.4

1.0

2

55

16

24

3

    Production

1.4

1.0

2

49

14

31

4

    Transportation and material moving

1.3

1.0

2

62

18

16

2

Full time

1.4

1.0

1

56

13

25

4

Part time

1.3

1.0

1

66

11

19

3

Union

1.3

1.0

3

62

11

20

3

Nonunion

1.4

1.0

1

56

13

26

4

Average wage within the following percentiles:3

    Less than 10

1.4

47

    10 to under 25

1.3

1.0

67

14

16

3

    25 to under 50

1.3

1.0

1

63

13

20

3

    50 to under 75

1.4

1.0

1

55

14

26

3

    75 to under 90

1.4

1.0

1

57

10

28

4

    90 or greater

1.5

2

48

13

32

5

Establishment characteristics

Goods-producing industries

1.5

1.5

2

46

14

32

6

    Construction

1.3

1.0

63

26

    Manufacturing

1.5

1.5

2

45

15

32

7

Service-providing industries

1.4

1.0

1

59

13

23

3

    Trade, transportation, and utilities

1.3

1.0

1

69

10

18

3

        Wholesale trade

1.5

51

14

29

7

        Retail trade

1.1

1.0

85

5

8

1

        Transportation and warehousing

1.3

1.0

4

61

17

18

        Utilities

1.5

3

47

5

40

5

    Information

1.3

1.0

66

4

26

    Financial activities

1.5

1.0

1

53

7

33

5

        Finance and insurance

1.5

1.0

1

52

8

33

6

            Credit intermediation and related activities

1.5

1.5

48

9

37

6

            Insurance carriers and related activities

1.4

1.0

4

58

6

28

4

        Real estate and rental and leasing

1.4

1.0

57

35

    Professional and business services

1.5

1.5

46

15

35

4

        Professional and technical services

1.5

1.5

48

10

37

5

        Administrative and waste services

1.4

46

36

    Education and health services

1.3

1.0

2

65

16

17

1

        Educational services

1.3

1.0

6

59

14

17

4

            Junior colleges, colleges, and universities

1.3

1.0

8

55

14

19

5

        Health care and social assistance

1.2

1.0

2

65

16

16

1

    Leisure and hospitality

1.3

1.0

53

31

14

        Accommodation and food services

1.3

52

36

    Other services

1.5

47

30

1 to 99 workers

1.4

1.0

1

55

13

26

5

    1 to 49 workers

1.4

1.0

54

13

29

5

    50 to 99 workers

1.4

1.0

1

59

14

22

4

100 workers or more

1.4

1.0

1

58

13

24

3

    100 to 499 workers

1.4

1.0

60

12

23

4

    500 workers or more

1.4

1.0

2

55

14

25

3

Geographic areas

Metropolitan areas

1.4

1.0

1

58

12

25

4

Nonmetropolitan areas

1.4

1.0

53

17

25

4

New England

1.3

1.0

3

62

8

22

4

Middle Atlantic

1.3

1.0

3

59

13

23

2

East North Central

1.4

1.0

1

53

16

27

3

West North Central

1.3

1.0

63

11

21

4

South Atlantic

1.4

1.0

1

59

13

24

3

East South Central

1.4

52

28

17

West South Central

1.4

1.0

54

9

33

3

Mountain

1.3

1.0

65

10

22

Pacific

1.5

1.0

52

11

28

7

1Includes participants in plans in which insurance equaled a multiple of earnings plus or minus a specified amount.

2Less than 0.5 percent.

3The percentile groupings are based on the average wage for each occupation surveyed, which may include workers both above and below the threshold. The percentile values are based on the estimates published in the "National Compensation Survey: Occupational Earnings in the United States, 2007." See Technical Note for more details.

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.