LIC AAO Salary 2019: The Life Insurance Corporation of India otherwise knows as LIC, is one of the biggest insurance companies in India. It has branches all over the country and a post as Assistant Administrative Officer (AAO) in such a reputed company is a lucrative deal indeed.
A total of 590 vacancies have been announced. The selection process is a tough one and interested candidates should start preparing immediately. Read on to find out more.
LIC has released the LIC AAO 2019 notification for the recruitment of Assistant Administrative Officers (AAO). A total of 590 vacancies have been announced this year. Eligible candidates can visit the LIC official website and apply for the exam. The last date for LIC AAO online registration is 22nd March 2019.
LIC AAO Salary Job Description And Career Opportunities
|Conducting Organization||Life Insurance Corporation of India (LIC)|
|Name of Post||Assistant Administrative Officer (AAO)|
|Number of Vacancies||590|
|Type of Job||Central Government Job|
|Job Location||Anywhere in India|
|Stages||Two (Online Test and Personal Interview)|
For more details, view the official notification: Click here to view PDF.
LIC AAO Job Profile
The LIC AAO post involves a lot of administrative work and not much of face-to-face interaction with customers. Your duties and responsibilities include (but are not limited to)
- Inspecting and analyzing current policies
- Planning new schemes/policies to implement
- Claim filing and management
- Interacting with clients and resolving their queries
- Communicating across departments
- Performing other duties, time to time, as required by your officer-in-charge.
The various departments of LIC are as under
- New Business
- Information Technology
- Marketing / Sales
- Policy Servicing
LIC AAO Payscale
The LIC AAO pay scale is as under
|32795 – 1610 (14) – 55335 – 1745 (4) – 62315|
- This means the initial Basic Pay of LIC AAO is Rs 32,795 per month.
- There is an annual increment of Rs 1,610 for the next 14 years.
- Basic Pay after 14 years will be Rs 55,335.
- Then there will be an annual increment of Rs 1,745 for the next 4 years.
- Basic Pay after the next 4 years will be Rs 62,315.
- In addition to the Basic Pay, there are other allowances which are calculated as a percentage of the Basic Pay based on the location of posting. The total LIC AAO salary is the sum of the Basic Pay and these allowances.
LIC AAO Salary Allowances And Other Benefits
The various allowances that are part of LIC AAO salary are tabulated below
|House Rent Allowance (HRA)||The HRA depends upon the job location. Based on whether the LIC AAOs are posted in metropolitan cities, big cities or other locations, the HRA can be 9%, 8% or 7% of the LIC AAO Basic Pay.|
|City Compensatory Allowance (CCA)||This too depends upon the job location and can be 4%, 3% or 0% of the LIC AAO Basic Pay.|
|Dearness Allowance (DA)||The DA is revised quarterly based on the Consumer Price Index. This component of LIC AAO Salary forms around 40% of the Basic Pay. Since CPI depends upon inflation rates, the DA can increase or decrease based on that.|
Adding all the allowances, the total LIC AAO salary per month is around Rs 56,000 in A Class cities.
Apart from the LIC AAO salary, there are other benefits of LIC AAO which are as under
- Leave Travel Concession (LTC)
- Special Allowance
- Group Mediclaim
- Group Insurance
- Defined Contributory Pension
- Cash Medical Benefit
- Accident Insurance
- Loan for Personal Vehicles, etc.
LIC AAO Career Promotions & Career Growth
Though you can get a promotion if you prove yourself to be a sincere, hardworking employee, the promotion will be slow and will take 4-5 years. It also depends on the post vacancy. There are two career paths available to you:
- You get promoted as Administrative Officer (AO). You can then further climb up the ladder to the positions of Assistant Divisional Manager (ADM), Divisional Manager (DM), Senior Divisional Manager (SDM), Zonal Manager and so on.
- You could get transferred to another department based on your performance and skillset. You can then become Assistant Branch Manager (ABM) and Branch Manager (BM).
LIC AAO Job Location And Travelling
The job of an AAO in LIC is a transferable job. As the corporation has branches all over the country, you might have to relocate a few times. But the transfers will generally be only to developed cities and not to rural areas.
Your job does not require you to travel. However, you might be required to make a few trips to follow up on assignments. They will not have anything to do with the sale of policies, as it is not in your job profile.
- After appointment as Assistant Administrative Officer, you shall be on probation for a period of one year from the date of joining. This period may be extended up to two years.
- Before joining as a Probationer, you will be required to give an undertaking to serve LIC for a minimum period of four years from the date of joining (including probationary period) failing which, you will be liable to pay liquidated damages of Rs.200,000/-only (Rupees Two Lakhs only) or the sum of amount the Executive Director (Personnel) may prescribe from time to time.
- You will have to submit Deed of Indemnity at his/her cost, duly stamped, the stamp value of which will be as applicable to the State in which the deed is executed by you.
We hope that this article cleared all the doubts you had regarding LIC AAO salary and job profile. Do check out our other articles for related job prospects.