mail-box-lead-generation

written by | July 5, 2022

LIC AAO Salary Structure, Job Profile, and Allowances

×

Table of Content


Life Insurance Corporation of India (LIC) is India's largest insurance corporation, and obtaining a lifelong government job with LIC is a dream to become a reality for government job aspirants. The high wage structure and other advantages of the LIC AAO position make it popular among young people. The starting monthly salary for LIC AAO positions is ₹32,795 plus allowances and other perks.

If you want to be a LIC AAO, you should be aware of the new salary structure, allowances, increments, job profile, joining information, promotion, and professional advancement chances. Read on to learn about the LIC AAO pay, increments, promotions, work profile, and more.

Did you know? The basic average salary of LIC AAO is ₹ 53,600 per month, which can be increased up to ₹ 90,630 per month.

Also read: Home Guard Salary - Home Guard Salary Details, Application Process & Benefits

Salary of LIC AAO

Life Insurance Corporation of India (LIC) is one of India's largest insurance firms. The position of Assistant Administrative Officer is one of the most desirable jobs in the insurance industry, which explains the increased rivalry. As a result, securing a position as a LIC AAO takes a lot of hard work and commitment. After being selected as a LIC AAO, applicants must serve a two-year probation term before being hired as permanent staff. If the aspirants fail to meet the service criteria, they would be compelled to pay LIC a sum of ₹ 5,00,000 plus GST and any other applicable taxes.

LIC AAO Exam

Before going into further details, let us have an overview of the exam.

Here are the main highlights of the LIC AAO 2022 Exam:

Particulars

Details

Name of post

AAO

Conducting Authority

LIC

Category of job

Central Government job

LIC AAO Full-Form

Life Insurance Corporation of India Limited Assistant Administrative Officer

Job location

India

Application mode

Online

Mode of exam

Online

Selection procedure

Online Computer Based Test (CBT) personalised Interview

Official Website

https://licindia.in/

Salary Details for LIC AAO

Any applicant hired as a LIC AAO receives the following basic pay and allowances. Each is described in detail in the table below.

Particulars

Amount (in ₹)

Basic Pay

53,600

HRA (7% for Z class city)

3,752

DA (29.36%)

17,058

Special allowance

4,500

Transport Allowance

1,960

Gross Salary

80,870

Now calculate your take-home salary by using the very efficient take-home salary calculator online with the ease of your fingertips.

Salary Deductions for LIC AAO

There are various pay deductions in addition to the allowances for those who were hired as LIC AAO candidates. As described in the table below:

Particulars

Amount (in ₹)

DCPS

6,933

GTIS

241

Mediclaim

200

GIS

3,050

New GI

137

Total Deductions

10,561

Net Salary of LIC AAO

70,309

Also read: What is the Salary of Medical Coder? - Medical Coding for Freshers

LIC Administrative Officer Salary

  • AAO's starting pay is ₹ 53,600 per month, with an annual increase of ₹ 2645 until 14 years.
  • After 14 years, there is a yearly increase of ₹ 2865 for the next four years.
  • After 18 years, the base salary of an AAO would be ₹ 1,02,090 every month.

For further details on the salary of a LIC AAO, please see the table below:

Particulars

Amounts

Basic salary at the time of hire

₹ 53,600 per month.

On a yearly basis, increase

₹ 2645 for the next 14 years from the date of joining.

After 14 years, the basic pay is increased.

₹ 90,630 per month.

After 14 years, there will be an annual increase.

₹ 2865 for the next 4 years.

After 18 years, the basic pay is increased.

₹ 1,02,090 per month

According to the rules, certain allowances are offered on the base salary.

Perks & Allowances for LIC AAO

The allowances are not set; instead, they are raised as needed. The goal of allowances is to protect against growing living costs and to give assurance against unexpected medical bills. A candidate appointed as a LIC AAO receives numerous appealing allowances and privileges in addition to a good income, some of which are listed below:

  • Accidental Insurance
  • Medical Facility
  • Leave Travel Concession
  • Personal automobile loan facility
  • Transportation Allowance
  • Allowance for Meal Coupons
  • Allowance for House Rent
  • Special Allowance
  • Mobile phone and other everyday costs, etc.
  • Group Insurance

The amounts or percentages of allowances are shown in the table below:

Allowances

Percentage of Basic Pay

Dearness Allowance (DA)

       29.36 %

House Rent Allowance (HRA)

  • Metropolitan cities - 10%
  • Big cities - 8%
  • Other cities - 7%

City Compensatory Allowance (CCA)

  • Metropolitan cities - 3%
  • Big or other cities - 2 to 2.5%

LIC AAO Salary Slip

As previously stated, the proper breakdown of a LIC AAO income includes all deductions and allowances. For your convenience, we have included a LIC AAO salary slip. This will push you to boost up your preparations because it is a fantastic opportunity for your career. For your convenience, we have included the LIC AAO pay slip below.

 Also read: IPS Officer Salary - in Detail IPS Salary, Rank Wise, Per Month & Perks       

LIC AAO Joining Information

Check out the following LIC AAO Joining Information:

  • Candidates must sign the undertaking to serve the LIC for a minimum of four years starting from the day they join before they may join as a probationer (including the probationary period).
  • If the candidate fails to meet the criteria, they would be obliged to pay monetary damages of ₹5,00,000 plus GST or any other tax due.
  • After being appointed, a candidate will be on probation for one year from the appointment date. Probation might last up to two years.

LIC AAO Work Profile

The LIC AAO position is an administrative position with a variety of functions and responsibilities. LIC AAOs operate in a variety of LIC departments. The following departments are named:

  • Inspection
  • Claims
  • Policy Servicing
  • Actuarial
  • New Business
  • Finance/Accounts
  • Information Technology
  • Marketing / Sales

LIC AAO Responsibilities

In general, the LIC AAO must carry out the following responsibilities:

  • LIC AAOs must assist the Administrative Officer or the department head in managing the overall operation of the department.
  • They must support consumers and customers whenever they demand it.
  • They must study and develop innovative schemes.
  • They must do any assignment assigned to them by the department leader.
  • They must interact and collaborate with other departments.
  • LIC AAOs will also be responsible for managing and filing claims and settlements.
  • LIC AAOs are also responsible for inspecting current programmes and policies. They must seek for flaws in the present schemes.

LIC AAO Promotion and Career Growth

Seniority or departmental tests are mostly used to determine promotion. LIC AAO promotion is often slower. A promotion typically takes 4 to 8 years from the date of appointment. Following AAO promotion, the following positions are made available to promoted AAOs:

  • Administrative Officer (AO)
  • Assistant Divisional Manager (ADM)
  • Divisional Manager (DM)
  • Senior Divisional Manager (SDM)
  • Zonal Manager and so on.

The chosen applicants who want to work for the AAO positions must service for a total of four years, including the probationary term, starting on the day they start. If a candidate violates any regulation, they may be obliged to pay an amount of ₹ 5,00,000 plus GST or the total of the Executive Director's salary (Personnel).

Also read: Understand the Indian Army's Salary Structure, Pay Scale, and Allowances

Conclusion

The attractive LIC AAO pay and distinguished work description entice a large number of people to apply for the desired position in the LIC. It provides a competitive income and only provides a competitive income, but officers hired by the Life Insurance Corporation of India are also eligible for several benefits.

The LIC offers job stability, respect, and a distinguished title. An appropriate understanding of the LIC AAO compensation not only answers questions but also encourages job seekers to apply. LIC also provides several prospects for advancement and a bright career. The LIC AAO salary will inspire job seekers to be motivated to pursue a position with LIC.

Follow Khatabook for the latest updates, news blogs, and articles related to micro, small and medium businesses (MSMEs), business tips, income tax, GST, salary, and accounting.

FAQs

Q: What is the potential for advancement in the LIC AAO?

Ans:

Employees of the Life Insurance Corporation of India have several prospects for advancement. Along with the LIC AAO income and the respectable work description, applicants who are eligible and knowledgeable may be promoted to higher positions. AAOs can advance through the ranks as Administrative Officer (AO)—Assistant Divisional Manager (ADM)—Divisional Manager—Senior Divisional Manager—Zonal Manager, and so on. There are also opportunities to shift to different departments through internal postings based on your performance/interest. You can advance to Assistant Branch Manager (ABM) and finally Branch Manager (BM).

Q: How are individuals promoted from the position of LIC AAO?

Ans:

After working for at least 5 to 8 years, the applicants are promoted based on their performance.

Q: Other than income, what are the perks of joining LIC AAO?

Ans:

After joining LIC AAO, applicants are given a list of allowances and perks, which are listed below for your convenience: Special Allowance, Accidental Insurance, Group Insurance, Leave Travel Concession, Medical Facility, Meal Coupon, Loan Facility for Personal Vehicle, Mobile and other Daily Requirements, and so on.

Q: What is the job description for the LIC AAO?

Ans:

Once designated as a LIC AAO officer, you will be responsible for the following tasks and obligations. These positions are not restricted and can be expanded as the workload and demand rise.

  • Creating new schemes, Examining both current and new policies.
  • Managing and submitting customer claims and settlements.
  • Assisting others and coordinating with other departments
  • To finish the job assigned by a higher authority.

Q: How much does the LIC AAO make in terms of pay?

Ans:

The LIC AAO pay is determined by the Life Insurance Corporation of India authorities. Selected applicants would be paid a base salary of ₹ 32,795. Aside from the income, LIC AAO officials are eligible for numerous perks and advantages such as Insurance, HRA, DA, TA,  and so on.

Disclaimer :
The information, product and services provided on this website are provided on an “as is” and “as available” basis without any warranty or representation, express or implied. Khatabook Blogs are meant purely for educational discussion of financial products and services. Khatabook does not make a guarantee that the service will meet your requirements, or that it will be uninterrupted, timely and secure, and that errors, if any, will be corrected. The material and information contained herein is for general information purposes only. Consult a professional before relying on the information to make any legal, financial or business decisions. Use this information strictly at your own risk. Khatabook will not be liable for any false, inaccurate or incomplete information present on the website. Although every effort is made to ensure that the information contained in this website is updated, relevant and accurate, Khatabook makes no guarantees about the completeness, reliability, accuracy, suitability or availability with respect to the website or the information, product, services or related graphics contained on the website for any purpose. Khatabook will not be liable for the website being temporarily unavailable, due to any technical issues or otherwise, beyond its control and for any loss or damage suffered as a result of the use of or access to, or inability to use or access to this website whatsoever.
×
mail-box-lead-generation
Get Started
Access Tally data on Your Mobile
Error: Invalid Phone Number

Are you a licensed Tally user?

Disclaimer :
The information, product and services provided on this website are provided on an “as is” and “as available” basis without any warranty or representation, express or implied. Khatabook Blogs are meant purely for educational discussion of financial products and services. Khatabook does not make a guarantee that the service will meet your requirements, or that it will be uninterrupted, timely and secure, and that errors, if any, will be corrected. The material and information contained herein is for general information purposes only. Consult a professional before relying on the information to make any legal, financial or business decisions. Use this information strictly at your own risk. Khatabook will not be liable for any false, inaccurate or incomplete information present on the website. Although every effort is made to ensure that the information contained in this website is updated, relevant and accurate, Khatabook makes no guarantees about the completeness, reliability, accuracy, suitability or availability with respect to the website or the information, product, services or related graphics contained on the website for any purpose. Khatabook will not be liable for the website being temporarily unavailable, due to any technical issues or otherwise, beyond its control and for any loss or damage suffered as a result of the use of or access to, or inability to use or access to this website whatsoever.