Life Insurance Corporation of India (LIC) has announced 590 vacancies for LIC Assistant Administrative Officer (AAO) recently. In this blog, we are going to look at all details of LIC AAO Salary. It would include the pay-scale of LIC AAO, Gross Monthly Salary of LIC AAO (In-Hand Income) and various allowances and perks which they get. We will also talk about the LIC AAO Job profile, Promotion and Work pressure in this blog.
LIC AAO Salary – Pay Scale
LIC AAO is one of the best entry level jobs in the Insurance sector. The main reason for it is the lucrative pay-scale of an LIC Assistant Administrative Officer. The Basic Pay scale component of LIC AAO Salary is as follows –
32795 – 1610 (14) – 55335 – 1745 (4) – 62315
Now let’s look at details of the pay scale. The first number – 32795, is the Basic pay component of an LIC AAO at the start of his career. The next figure – 1610, is the value of the year-on-year increment which an LIC AAO would get on his basic pay. This increment would be given for first 14 years of the service. Therefore, at the end of the 14 years, the Basic pay would become 55335. After this, the increment would be 1745 for the next four years. Thus, taking the Basic Pay amount to 62,315 after 18 years of service.
LIC AAO Salary – Gross Monthly Income
The LIC AAO Salary is popularly described as the total in-hand monthly income received by the Assistant Administrative Office of LIC. In-Hand Monthly income is the sum total of Basic pay and other salary components like – House Rent Allowance (HRA), variable pay, Dearness Allowance (DA), City Compensatory Allowance (CCA) etc.
After adding all the allowances to the Basic Pay, the Gross Monthly income of LIC AAO would come to around 54,000 to 56,000 Rupees approximately.
- House Rent Allowance – 9 to 7% of the Basic Pay (depending on the City of Posting)
- Dearness Allowance – It is 40% of the Basic Pay
- City Compensatory Allowance – It is 2 to 4% of the Basic Pay (Depending on the City you have been posted)
LIC AAO Salary – Additional Benefits
Apart from the Basic Pay and Salary Allowances, LIC AAO is also entitles to various additional benefits. Following is the List of all such benefits which are part of the LIC AAO Salary.
- Accident Insurance
- Cash Medical Benefit
- Defined Contributory Pension
- Group Mediclaim
- Group Insurance
- Leave Travel Concession (LTC)
- Personal Loan on concessional interest rates
- Personal Vehicle Loans on concessional interest rates
- Special Allowance
Apart from the above benefits LIC AAO is also eligible to receive the following coupons and re-imbursements. This is an addition to the Salary of LIC Assistant Administrative Officer.
- Meal coupons
- Re-imbursement for Briefcase/ Leather Bag expenses
- Mobile Expenses Re-Imbursement
- Re-Imbursement of expenses for Newspapers and Magazines, etc.
LIC AAO Salary – Job Profile
Following are the details of the Job Profile of LIC Assistant Administrative Officer:
- Query Resolution of Clients
- Analysing and Auditing old policies etc.
- Processing Policy Claims of the customers
- Planning and Creating new Policies to attract new customers
- Overlooking Inter-departmental co-ordination related to claims processing.
LIC AAO Salary – Promotion
Following is the List of positions which an LIC AAO can be promoted to
- Assistant Divisional Manager (ADM)
- Divisional Manager (DM)
- Senior Divisional Manager (SDM)
- Zonal Manager (ZM)
LIC AAO Salary – Transfers/Postings and Work Pressure
The details of the Transfers/Postings and Work Pressure of an Assistant Administrative Office of LIC are given below -:
- The Transfer of LIC AAO happens every 3 to 5 years
- LIC AAO are usually posted in Cities and Towns
- LIC AAO Posting can happen any-where in India
- The Work pressure of LIC AAO is low. Especially when compared to that of a Bank PO
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- Insurance Awareness Notes
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That is all from us in this blog about LIC AAO Salary. We hope you liked reading the information provided. Keep checking this space for any LIC AAO Exam updates, LIC AAO FREE Mock Tests, LIC AAO Study Materials, etc. All the best for your LIC AAO Exam preparation.