List of Insurance Exams 2020 – Get the Complete Details Here

The insurance industry in India has seen major growth in the last decade. Some demographic factors like the growing insurance awareness, retirement planning, growing middle class and young insurable crowd will substantially increase the growth of the Insurance sector in India.

And with this, there would be an increase in the manpower required in the insurance companies. This would, in turn, lead to increased recruitment drives by the major insurance companies like LIC and the like.

Keeping the above-given analysis in mind, we would go through the major upcoming insurance exams 2020  that are conducted in a year and throw some light on the important aspects of these exams that are:

Insurance Industry in India

The Insurance sector in India consists of a total of 57 insurance companies. Out of which 24 companies are the life insurance providers and the remaining 33 are non-life insurers. Out which there are seven public sector companies.

Government Ruled/Owned Insurance Companies

  1. LIC,
  2. New India Assurance,
  3. National Insurance,
  4. United insurance and
  5. Oriental

These are the only government ruled entity that stands high both in the market share as well as their contribution to the Insurance sector in India.

There are two specialized insurers:

  1. Agriculture Insurance Company Ltd catering to Crop Insurance and
  2. Export Credit Guarantee of India catering to Credit Insurance. 

The Indian Insurance Sector in India is divided into two categories:

  1. Life Insurance and
  2. Non-life Insurance.

The Non-life Insurance sector is also termed as General Insurance.

Both the Life Insurance and the Non-life Insurance is governed by the IRDAI (Insurance Regulatory and Development Authority of India).

Life Insurance Companies

Life insurance companies offer coverage to the life of the individuals, whereas the non-life insurance companies offer coverage with our day-to-day living like travel, health, our car and bikes, and home insurance.

Non-Life Insurance Companies

Not only this, but the non-life insurance companies provide coverage for our industrial equipment’s as well. Crop insurance for our farmers, gadget insurance for mobiles, pet insurance etc. are some more insurance products being made available by the general insurance companies in India.

Currently, there are 24 life insurance companies and 30 non-life insurance companies 

The government also strives hard to provide insurance to individuals in a below poverty line by introducing schemes like the

  1. Pradhan Mantri Suraksha Bima Yojana (PMSBY),
  2. Rashtriya Swasthya Bima Yojana (RSBY) and
  3. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).
  4. PM-AASHA
  5. PM Kisan

Upcoming Insurance Exams 2020

We would divide the insurance exams based on the conducting bodies. This would make it easy for you to understand as to how many exams are being conducted and at what time of the year. 

I. Life Insurance Corporation (LIC) 

Life Insurance Corporation of India (abbreviated as LIC) is an Indian state-owned insurance group and investment corporation owned by the Government of India.

It is the only corporation in the Insurance sector that has been more or less regular in putting out a recruitment notification for the recruitment of Officers and Assistants for its offices and branches all over India. 

Let us start and discuss the exams that are conducted by Life Insurance Corporation (LIC).

1. LIC AAO (Assistant Administrative Officer)

LIC AAO Specialist Officer is one of the best entry-level jobs in the LIC. The main reason for it is the lucrative pay-scale and job profile of a LIC Assistant Administrative Officer. 

LIC AAO 2020
Posts

Vacancies 2020

Generalist, Legal, Rajbhasha, CA, Actuarial, & IT

168

Mode of application Online
Notification & Online Application

Check detailed Notification Here.

Feb 25 to 15th March 2020
LIC AAO Prelims Exam Date April 4, 2020
LIC AAO Mains Exam Date To be announced
Mode of Selection Prelims, Mains, Interview
Eligibility Criteria Bachelor’s Degree from a recognized Indian University/ Institutions.
An applicant should not be below 21 years of age and
not above 30 years of age calculated as per the date mentioned in
the notification.*Changes as per the post one is applying for.
Application Fee SC/ST/ PwBD candidate – Rs. 85/- +Transaction Charges + GST
For all other candidates – Rs. 700/- + Transaction Charges + GST
Salary of LIC AAO Specialist Officer
Check the Salary Here.
Basic pay of Rs. 32795/- per month.
Gross Pay – Rs 57,000/– per month in ‘A’ Class city.
LIC AAO Benefits & Perks Defined Contributory Pension, Gratuity, LTC, Cash Medical Benefit, Group Mediclaim,
Group Personal Accident Insurance, Group Insurance, Vehicle Loan (2-wheeler/4 wheeler) as per rules,
meal coupon, reimbursement of the cost of Briefcase/leather bags, mobile handset,
the supply of dailies and magazines and tea/coffee, mobile expenses.

Click Here for LIC AAO Study Plan and Preparation Strategy.

2. LIC Assistant Engineer (LIC AE)

LIC AE 2020 (Assistant Engineer)
Posts Assistant Engineer (Civil/ Electrical /Structural /MEP) &
Assistant Architect (A.A).
  
Mode of application
  
Online
  
Notification & Online Application

Check detailed Notification Here.

25 January 2020 to 15 March 2020
  
LIC AE Prelims Exam Date
  
4 April 2020
  
LIC AE Mains Exam Date
  
To be announced
  
Mode of Selection
  
Selection of Assistant Engineers will be done through a three-tiered
process i.e. Prelims, Mains and Interview
  
Eligibility Criteria
  
B. Tech./B.E. from an AICTE recognized Indian University/Institution.
  
*varies as per the post.
  
Application Fee
  
  
SC/ST/ PwBD candidate – Rs. 85/- +Transaction Charges + GST
For all other candidates – Rs. 700/- + Transaction Charges + GST
  
Salary of LIC AE  Basic pay of Rs. 32795/- per month.
Total emoluments are Rs 57,000/– per month in ‘A’ Class city.
  
LIC AE Benefits & Perks
  
  
Defined Contributory Pension, Gratuity, LTC, Cash Medical Benefit,
Group Mediclaim, Group Personal Accident Insurance, Group Insurance, Vehicle
Loan (2-wheeler/4 wheeler) as per rules, meal coupon, reimbursement of the cost
of Briefcase/leather bags, mobile handset, a supply of dailies and magazines
and tea/coffee, mobile expenses.
  

Click Here for LIC AE Study Plan and Preparation Strategy.

3. LIC Assistant 2020

LIC Assistant 2020
Posts
Vacancies 2019
Assistants (Clerical Cadre)
7500
Mode of application Online 
Notification & Online Application 17 Sep 2019 to 1 Oct 2019
LIC Assistant Prelims Exam Date 21st & 22nd of October 2019
LIC Assistant Mains Exam Date 22nd December 2019
Mode of Selection Prelims & Mains
Eligibility Criteria
  
Bachelor’s degree (10+2+3) in any discipline from any recognized university.
Age Criteria – 18 to 30 years of age.
Application Fee
  
  
SC/ST/PWD Candidates – ₹85 + GST + Transaction Charges
All Other Categories – ₹510 + GST + Transaction Charges  
Salary of LIC Assistant Basic Pay -: 14,435/-
Gross Monthly Salary – ₹30,000/-
LIC Assistant Benefits & Perks There are benefits like HRA, DA and special allowances.

 

4. LIC ADO (Apprentice Development Officer)

LIC ADO 2019 (Apprentice Development Officer)
Post
Vacancies 2019
  
Apprentice Development Officer
8581
Mode of application Online
Notification & Online Application 20th May 2019 to 9th June 2019
LIC ADO Prelims Exam Date 6th & 13th July 2019
LIC ADO Mains Exam Date 11th August 2019
Mode of Selection Prelims, Mains & Interview
Eligibility Criteria Bachelor’s Degree of a University in India established under a
statute or approved for the purpose or the Fellowship of Insurance Institute
of India,
  
Age Criteria – 21 to 30 years of age.
Application Fee
 
SC/ST/PWD Candidates – Rs 50 + GST + Transaction Charges
All Other Categories – Rs 600 + GST + Transaction Charges  
Salary of LIC ADO During the apprentice period, the candidate selected as Apprentice
Development Officer will be paid a fixed amount as stipend per month as per rules of the Corporation.
At present, the amount of stipend is about ₹.34,503/- per month.
  
Total emoluments – Rs 37,345/- in ‘A’ Class City.
LIC ADO Benefits & Perks
  
House Rent Allowance & City Compensatory Allowance.
Other benefits include Gratuity, Defined Contributory Pension Scheme,
LTC, Medical Benefit, Group Insurance, Group Personal Accident Insurance,
vehicle advance (2-wheeler/4-wheeler), reimbursement towards the cost of Brief
Case/leather bag, mobile handset, a supply of dailies as per rules and on
confirmation in service, attractive performance-linked Incentives.

 

5. LIC HFL 2019

 LIC HFL 2019  
Post
Vacancies 2019
  
Assistants, Associates & Assistant Managers
300
Mode of application Online
Notification & Online Application

LIC HFL Notification 2019

8 August to 26 August 2019
LIC HFL Prelims Exam Date 9th & 10th of October 2019
Mode of Selection A single online examination and interview 
Eligibility Criteria  Assistant – Graduate (minimum aggregate 55% marks)
  
Associates – Graduate (minimum aggregate 60% marks)
and CA-Inter
  
Assistant Manager – Graduate (minimum aggregate 60% marks) and Two
years full-time MBA/ Two years full-time MMS/ Two years full-time PGDBA/
PGDBM/PGPM/PGDM in any discipline from a recognized university/ institute/
board (minimum aggregate 60% marks).
Course completed through correspondence/part-time are not eligible.
  
Age Criteria – 21 to 28 years of age.
Application Fee
 
Rs 500/-
Salary of LIC HFL Assistant – Total Emoluments per month: Approximately Rs.
23,870/- (depends upon the place of posting).
   Associates – Total Emoluments per month: Approximately Rs.
35,960/- (depends upon the place of posting.
  
Assistant Managers – Total Emoluments per month: Approximately Rs.
56,000/- (depends upon the place of posting)
LIC HFL Benefits & Perks Lunch Allowance, Provident Fund, Mediclaim, Gratuity, LTC, Group
Insurance Scheme, Housing Loan, Performance Linked Incentive and other
benefits as per rules.

1. NIACL AO 2018

NIACL AO 2018
Post

Vacancies 2019

Administrative Officer
1. Generalist
2. Specialist – Company Secretary, Legal, Finance & Accounts
312
Mode of application Online
Notification & Online Application 10th Dec 2018 to 26th Dec 2018
NIACL AO Prelims Exam Date 30th Jan 2019
NIACL AO Mains Exam Date 2nd March 2019
Mode of Selection
  
Phase 1 – Prelims Exam (Objective Test)
Phase 2 – Main Exam (Objective and Descriptive Test)
Phase 3 – Interview
Eligibility Criteria Minimum qualification of a graduate/postgraduate in any discipline
from a recognised University or any equivalent qualification recognised as
such by Central Government with at least 60% marks in either of the
degree examination for General candidates and at least 55% marks
for SC/ST/PwBD candidates.
Application Fee SC/ ST / PwBD Candidates – Rs. 100/-
Candidates other than SC/ ST / PwBD – Rs. 600/-
Salary of NIACL AO
  
Basic pay of Rs. 32,795/-
Total emoluments will be approximately Rs.51,000/- p.m. in
Metropolitan Centers.  
NIACL AO Benefits & Perks National Pension System (NPS) coverage governed by PFRDA
Gratuity
LTS
Medical Benefits
Group Personal Accident Insurance.
Company’s / leased accommodation as per norms

 

2. NIACL Assistant 2018 

NIACL Assistant 2018
  
Post
Vacancies 2018
Assistant (Clerical Cadre)
685
Mode of application Online 
Notification & Online Application  16th July 2018 to 31st July 2018
  
NIACL Assistant Prelims Exam Date September 2018
NIACL Assistant Mains Exam Date   October 2018
Mode of Selection Prelims & Mains
Eligibility Criteria Graduate Degree / its equivalent from recognized institute and
colleges.
 Age Criteria – 18 to 30 years
Application Fee General Candidates – Rs 600/-

SC/ ST/ PWD/ Ex. Sm/ Females – Rs 100/-

Salary of NIACL Assistant Total emoluments work out to approximately Rs.23500/- per month in the initial stage in a metro city.
NIACL Assistant Benefits & Perks Lump-sum domiciliary medical benefit, membership of Group Mediclaim
Policy for Reimbursement of hospitalization expenses, leave travel subsidy
and other staff welfare schemes would be as per the rules of the Company.

We will update other Insurance Exams as well in this blog itself. Stay tuned to Oliveboard for more such informative content and preparation material. 

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