LIC AAO Salary 2023 – Benefits, Perks, Job Profile

LIC AAO Salary: The Life Insurance Corporation of India has announced a total of 300 vacancies for the recruitment of the Administrative Assitant Officer post.  The participating departments are Generalist, CA, Actuarial, Rajbhasha, & IT. Something that makes LIC such an attractive job prospect is the various perks and benefits that you can avail of. Here in this article, we will be covering the below-mentioned highlights:

• LIC AAO Salary
• Gross Monthly Income
• Additional Benefits
• Job profile

LIC AAO Salary 2023

Pay Scale: Rs. 53600/- per month in the scale of Rs. 53600- 2645(14) –90630– 2865(4) –102090

Total emoluments at the minimum of the scale inclusive of House Rent Allowance, City Compensatory Allowance, etc wherever admissible depending upon the classification of the city will be approximately Rs. 92870/- per month in ‘A’ Class city. Other benefits are 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, supply of dailies and magazines and tea/coffee, mobile expenses, etc. as per rules.

LIC AAO SO Salary 2023 – Additional Benefits

Apart from the Basic Pay and Salary Allowances, LIC AAO can also avail a number of 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
• Gratuity
• Group Mediclaim
• Group Insurance
• Leave Travel Concession (LTC)
• Personal Loan on concessional interest rates
• Personal Vehicle Loans on concessional interest rates
• Special Allowance

LIC AAO Job Profile

The service conditions will be applicable as per the prevalent rules of the LIC from time to time. The advertised posts are regular and selected candidates, on the appointment, are liable to posting or subsequent transfer anywhere in India. Most of the vacancies are in the mofussil branches of LIC. As such, after selection and successful completion of training, candidates will be posted for a minimum period of three years in mofussil branches outside their home zones. The following are a part of the LIC AAO Job Profile:

• Query Resolution of Clients
• Analyzing and Auditing old policies etc.
• Processing Policy Claims of the customers
• Planning and Creating new Policies to attract new customers
• Overlooking Inter-departmental coordination related to claims processing.

Probation:

A candidate after appointment shall be on probation for a period of a minimum of one year to a maximum of two years from the date of joining. During the period of probation, the candidates will undergo continuous assessment as per the Corporation’s extant policy. If any candidate fails to achieve the minimum standard performance, the Corporation may dismiss them as per their policy.

Guarantee Bond:

Before joining as a Probationer, candidates will have to give the undertaking to serve LIC for a minimum period of four years from the date of joining (including the probationary period) failing which, he/she or his /her heirs, executors, administrators will be liable to pay liquidated damages of Rs.5,00,000/-only (Rupees Five Lakhs only) + GST or the sum of amount the Executive Director (Personnel) may prescribe from time to time. GST or any other tax payable shall also be borne by the candidate. The candidate will have to submit a Deed of Indemnity and surety at his cost, duly stamped and notarized, the stamp value of which will be as applicable to the State in which the deed is executed by the candidate.

LIC AAO Promotion

Below is the hierarchy of the AAO So in the LIC after joining:

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 as follows -:

• The Transfer of LIC AAO happens every 3 to 5 years
• LIC AAO usually receives postings in cities and towns.
• LIC AAO Posting can happen anywhere in India
• The Work pressure of LIC AAO is low. Especially when compared to that of a Bank PO

The job of Assistant Administrative Office at LIC is one most sought-after jobs and lakhs of candidates appear in the examination every year.

One thing that sets you apart and ensures your selection is the right direction of your preparations and the correct guidance.

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LIC AAO – Preparation Materials 

Oliveboard has brought to you a specially curated Mock Test series for your preparations. Here are a few highlights of the series:

• 10 Mock Test for Prelims (LIC AAO SO)
• 5 Mock Test for Mains (LIC AAO SO)
• GK Supplement and Online Test

To make your learning experience richer, we are providing you with the first mock test completely free.

Conclusion

This is all the information about the LIC AAO Salary, Job Profile, Perks, and Benefits for now. For more information on LIC AAO and other banking exams, go on ahead to our YouTube channel:

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