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Eligibility: Country office appointments (regular, open, term, executive director appointments, alternates and senior advisors, advisor to executive directors).

• Effective January 1, 2015, staff receive basic life insurance coverage in the event of their death equal to:

o   One times net annual salary for those who participate in the net pension plan (generally those who joined the Staff Retirement Plan on or after April 15, 1998). A separate amount equal to two times net annual salary will be paid through the Staff Retirement Plan (SRP) in the event of death.

o   One times net annual salary for those who participate in the old gross pension plan (generally those who joined the SRP on or before April 14, 1998).

• Enrollment in basic coverage is automatic and effective from the first day of employment.
  • The one times net annual salary of life insurance for net plan participants decreases after age 67 as follows:

• In the event of a claim, insurance proceeds are paid based on beneficiaries as specified by staff.
• ľ¹ÏÓ°Ôº Group's Life Insurance program is a term insurance and therefore has no cash or annuity value.
• Information regarding the Bank Group's Life Insurance policy:
  • Name of Insurance Company: Cigna/Vanbreda
  • Policy Owner: World Bank Group
  • Policy Number: 910.M52.