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The World Bank
1818 H Street N.W.
Washington, DC 20433

Basic Group Term Life Insurance for Open, Term, Regular Staff, and Executive Directors in Headquarters

Eligibility: Open, Term, and Regular staff HQ appointments

Coverage levels:

  • Staff receive basic life insurance coverage in the event of their death equal to one time (1x) net annual salary1. The coverage decreases after age 67 as follows:
    • For active staff aged 67-69, coverage is 65 percent of what is normally calculated.
    • For active staff aged 70 or older, coverage is 50 percent of what is normally calculated.
       
  • Enrollment in the Basic Life coverage is automatic and effective from the first day of employment.

Important notes:

  • The Bank’s Life Insurance program is a group term life insurance policy and therefore has no cash or annuity value.
  • In the event of a claim, insurance proceeds are paid based on beneficiaries as specified by staff.
  • Exclusions may apply as per insurance policy with insurer
     

1A separate amount equal to two times (2x) net annual salary is be paid through the Staff Retirement Plan (SRP) in the event of death for staff on the Net Plan.