Welcome to the Home Page of the World Bank Group's Retiree Group Life Insurance program. This page is maintained by the Human Resources Service Center of the World Bank Group.

Retiree Life Insurance is offered to HQ-based staff who retire from active service in the World Bank and immediately draw a pension. If you do not draw a pension immediately upon termination of active employment, or if you qualified for Retiree Life but prior to your last day of active service but you did not elect to participate in the Retiree Life Insurance program, you are ineligible and cannot join the program.

There are two coverage options for Retiree Life Insurance.

• Standard Option, which is based on 75% of your last annual net salary as an active staff member. If you had World Bank group life insurance coverage on your last day of active service of only one times your salary, this is your only option.
• High Option, which is based on 150% of your last annual net salary as an active staff member. You are eligible for the high option if you had group life insurance coverage on your last day of active service of two or more times your last annual net salary.

The Retiree Life Insurance plan has fixed coverage (at 75% or 150% of your last annual net salary) until you reach age 62. Thereafter, coverage levelsdecline each year on your birthday until you reach age 75. If you die after age 75, the coverage amount is $5,000 for the Standard Option and $10,000 for the High Option. The premium is fixed until age 75, then declines sharply and remains constant until you die. Until age 75, the coverage level reduction table is based on your initial coverage, and is as follows:

Retirees can assign ownership of their life insurance to another individual or trustee.  Assignation results in movement of control of all aspects of life insurance planning (beneficiary, coverage cancellation decisions, etc.) to the assignee.  More...