Eligibility: Staff on regular, open, term, or executive director (ED) appointments.
You may purchase Optional Group Life Insurance of up to five times net annual salary at your expense. This raises total Group Life Insurance coverage (Basic plus Staff Retirement Plan plus Optional) to a maximum of eight times annual net salary.
As this Group Life Insurance program is optional, you pay 100 percent of the premium for the additional insurance (which increases with age and salary).
Enrollment in Optional Group Life Insurance may be made without proving evidence of good health only if:
If you wish to establish or increase your Optional Group Life Insurance coverage in any other circumstance, you must go through Late Enrollment and provide evidence of good health satisfactory to our insurer. The World Bank Group cannot and will not intervene on late enrollment decisions.
You may reduce or cancel your Optional Group Life coverage at any time through myHR Self-Service. You will not be allowed to increase it later without going through Late Enrollment unless you have a life event, in which case you may increase coverage by one times annual net salary within 60 days, as described above.
Termination and immediate reappointment under a different appointment type, where both the old and new appointment types are eligible for Optional Group Life Insurance, does not afford you a new opportunity to increase Optional Life Insurance coverage.
Staff may also choose to supplement their World Bank Group paid basic life insurance benefit with the Bank Group optional insurance or with policies that are readily available in the U.S. Insurance market - You can shop for alternatives via the web-based search insurance search engines like Insure.com.
Below are country office (CO) and HQ specific links: