LIC HFL Salary 2023, Check the Salary Structure

LIC HFL Salary 2023

The LIC HFL Salary is a matter of great interest and importance for candidates aspiring to work with LIC HFL. The salary offered by LIC HFL is competitive and attractive, ensuring a rewarding career for its employees. Apart from handsome basic pay, LIC HFL provides various allowances, benefits, and perks that contribute to an overall lucrative compensation package. In this blog, we will provide you with the LIC HFL Salary 2023 and the in-hand salary details.

LIC HFL Salary Structure

We have mentioned below the detailed salary structure for each post of the LIC HFL Recruitment 2023.

LIC HFL Assistant Salary

Basic pay: Rs. 13,980/- per month
Payscale: 13980 – 860(1) – 14840 – 940(2) – 16720 – 1060(5) – 22020 – 1230(2) – 24480 – 1500(3) – 28980 –1565(2) – 32110

Total Emoluments per month: Approximately Rs. 23,870/- (depends upon the place of posting)

LIC HFL Associate Salary

Basic pay:  Rs. 21,270/- per month

Pay scale: 21270 – 1485(3) – 25725 – 1665(15) – 50700 and other admissible allowances as per rules shall be payable.

Total Emoluments per month: Approximately Rs. 35,960/- (depends upon the place of posting)

LIC HFL Assistant Manager

Basic Pay: Rs. 32,815/- per month

Pay Scale: 32815 – 1685(14) – 56405 – 1755(3) – 61670 and other admissible allowances as per rules shall be payable.

Total Emoluments per month: Approximately Rs. 56,000/- (depends upon the place of posting)

LIC HFL Assistant/ Associate/ Assistant Manager – Other Allowances

Apart from their regular salary, based on their place of posting, employees also get:

LIC HFL Employee Benefits

Lunch Allowance

Provident Fund

Mediclaim, Gratuity

Leave Travel Concession (LTC)

Group Insurance Scheme

Housing Loan

Performance Linked Incentive and other benefits as per rules.

LIC HFL Assistant, Associate & Assistant Manager – Probation

Assistant/ Associate: 6 months from the date of joining which may be extended for a maximum period of 6 months.

Assistant Manager: Before appointment as Assistant Manager, there will be a training period of 1 year as a Management Trainee from the date of joining. A consolidated salary of Rs.25,000/- per month will be paid during this training period. The appointment to the post of Assistant Manager will be subject to the successful and satisfactory completion of the training period. There will be a probation period of 1 year from the date of appointment as Assistant Manager which may be extended for a maximum period of 1 year.

LIC HFL Job Profile 2023

After the successful completion of the probation period, the Trainees are appointed to their respective positions.

LIC HFL Assistant Job Profile

• Deal with Customer grievances.
• Processing and reviewing insurance documentation and ensuring all documents are complete.
• Managing Sales documents & other documents related to policies, claims, settlements, accounts, etc.
• Handling online/ offline transactions
• Performs such other duties as may be entrusted from time to time

LIC HFL Job Profile of Associate

• The job responsibilities of an Associate are a step higher than that of an Assistant. Since the job is in the insurance sector, there will be a Sales aspect as well. They would need to cross-sell insurance products and advise better investment plans to the clients.
• Deals with other administrative matters and specialized duties assigned by superior authorities.

LIC HFL Assistant Manager Job Profile

Although the responsibility of an Assistant Manager varies from department to department, some of them are listed here: 

• Receiving home loan applications.
• Screening and evaluating the creditworthiness of clients
• Recommending loans for approval
• Getting the loan sanctioned and processing it on the system.
• Co-ordinating with the Market intermediaries or Agents
• Assist the Senior Manager in meeting the sales targets & promotion of products and services.

LIC HFL Growth and Promotion

In terms of growth, there are ample opportunities in LIC HFL. Employees get timely promotions based on their years of experience and performance. Employees may also give Departmental examinations and get promoted to higher posts.

We hope this blog gave you a better understanding of the LIC HFL Salary 2023. To read more such blogs, visit the Oliveboard website!

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LIC HFL Salary 2023 – Frequently Asked Questions