Avision is one of the Best LIC AAO Online Coaching Centre in India

The LIC AAO & AE prelims exam will be conducted very soon. Like all government exams, this is also a dream job for many which provides a secure and well-paid career in the government insurance sector of India.

The candidates interested to pursue a career in the Life Insurance Corporation of India as an Assistant Administrative Officer (AAO) and Assistant Engineer (AE) must be eager to know details about the LIC AAO salary, in-hand salary, and detailed Salary Structure.

We have provided details regarding LIC AAO & AE salary (in-hand & gross), LIC AAO salary slip, job profile, and career growth in LIC to address your queries. Check LIC AAO salary in detail with other benefits below.

LIC AAO salary comprises various components, there are other factors that add up to the in-hand salary apart from basic pay. LIC offers an attractive salary package to its employees. There are numerous other components of the salary package, like Dearness Allowance, House Rent Allowance, etc. Candidates will get here the details of the basic pay. Maximum basic pay and LIC AAO salary 2024. 

LIC AAO is one of the most sought-after posts among the candidates. The LIC AAO salary offered for the post is a striking feature of this recruitment opportunity. Candidates throughout the country apply for this job due to job security and a good salary. LIC AAO employees are also facilitated with many allowances. Payscale, basic pay, and many details that are present in LIC AAO salary slip.

There are numerous perks and allowances add up to the LIC AAO in-hand salary, they cumulatively add on the amount. Along with a highly reputable job profile, a handsome salary structure, the perks and allowances add up to the fascination of the job. The list of the perks and allowances have been mentioned herewith.

 The gross salary of a LIC AAO & AE will be around ₹ 58000/- to ₹ 60000/- per month (in hand)

 Emoluments and other details

●       Total emoluments including House rent allowance (HRA) and city compensatory allowance wherever applicable depending upon the place of posting will be approximately 56,000/- per month in hand.

●       candidates will also be given other benefits like defined contributory pension, special allowance for passing actuarial examination, 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 towards the cost of briefcase/leather bags, mobile handset, the supply of dailies and magazines and tea/coffee, mobile expenses, etc. as per rules.

●       Candidates who are selected for the post of AAO (Chartered Accountant) with two years post qualification work experience on the date of eligibility are eligible for two advance increments.

As we have earlier mentioned the proper breakdown of an LIC AAO salary with all deductions and after adding the allowances. Here we are providing a LIC AAO salary slip for a better insight. We have given below the LIC AAO salary slip for knowledge.

The LIC AAO job profile completely depends on the vacancies in the organization. Once the aspirants are appointed at LIC AAO post, they will have to carry out the following roles and responsibilities. The job of an Assistant Administrative Officer (AAO) involves administrative work in LIC. It is basically a desk job.

A LIC AAO is responsible for doing the following tasks:

a) Formulating new schemes, Checking existing and new policies.

b) Managing and filing Claims and Settlements of the customers.

c) Providing assistance and coordinating with the other departments.

d) To complete the work as assigned by the higher authority.

e) Interacting with the customers and solving their queries.

f) Inspect existing policies for errors and misleading facts.

After becoming an LIC AAO officer, they will get multiple chances to get promoted to a higher level. Most bank aspirants want to become officers at higher posts. All the candidates who wish to get a promotion from LIC AAO officer need to apply for the promotion test and appear for the examination as well and also undergo their service for at least a period of 2 years in order to be eligible for promotion to officer.

●       Retirement in an organization takes place every year. There are good chances of promotion for newly appointed employees in the company.

●       However, the promotion policy is not very proactive and the minimum time required for being promoted varies from 5 to 8 years.

Thus there are 2 paths for career advancements:

1. After gaining certain years of experience, AAOs can get promoted as Administrative Officer (AO)--Assistant Divisional Manager (ADM) -- Divisional Manager -- Senior Divisional Manager -- Zonal Manager, and so on.

2. There are also chances to move to other departments through internal posting based on your performance / Inclination. There you can become Assistant Branch Manager (ABM) and then Branch Manager (BM).

The various Departments are as follows:

●       Finance/Accounts

●       New Business

●       Information Technology

●       Policy Servicing

●       Claims

●       Marketing / Sales

●       Actuarial

●       Inspection

●       Legal

●       Systems

Some of these departments work at Zonal, Divisional & Central Office Levels Only.

●       AAO & AE may not engage in traveling but at times, they might have to visit certain areas not for the purpose of the sale but for taking the follow-up. Hence they could be posted in specific departments within the organization & the responsibilities for each will vary.

Checkout the important details to remember about the LIC AAO probation period-

●       A newly recruited AAO & AE will be on probation for one year from the date he/she joins the organization. This probation is expandable up to 2 years based on the performance.

●       Candidates have to serve a period of a minimum of 4 years in LIC including a probation period.

●       In case a candidate fails to serve the minimum serving period, then he/she will be liable to pay damages of ₹ 500, 000/-only (Five Lakhs only) or the sum of an amount the Executive Director (Personnel) may prescribe from time to time.

●       Selected candidates can be posted anywhere across 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.

            What is the LIC AAO Salary?

            The candidates can calculate the LIC AAO salary by using this formula Basic Salary House Rent Allowance Dearness Allowance + City Compensation- Provident Fund and Pension Contributions. The LIC AAO salary is in accordance with the 7th pay commission. The basic LIC AAO salary is ₹ 32,795 per month.

            What is the Pay Scale of LIC AAO Salary?

            The LIC AAO salary is defined by the officials of the Life Insurance Corporation of India. Selected candidates will receive a basic pay of ₹ 32,795/- At the entry-level, he/she will receive 32795 – 1610 (14) – 55335 – 1745 (4) – 62315. Other than the salary, LIC AAO officers are also entitled to receive various perks & benefits such as DA, HRA, TA, Insurance, etc.

            What is the LIC AAO salary annually?

            The Life Insurance Corporation of India provides a lucrative salary structure to its employees. They are paid in accordance with the 7th pay commission. They receive 4-5 lakhs annually, along with it they are also entitled to various allowances and perks. The LIC AAO salary also depends on the location they are currently working and residing.

            What is the LIC AAO job profile?

Once you are appointed as LIC AAO officer, you will have to carry out the following roles and responsibilities. These roles are not limited as it can be increased with the pressure and the workflow.

●       Formulating new schemes, Checking existing and new policies.

●       Managing and filing Claims and Settlements of the customers.

●       Providing assistance and coordinating with the other departments.

●       To complete the work as assigned by the higher authority.

What is the LIC AAO career growth?

The Life Insurance Corporation of India presents a plethora of growth opportunities for its employees. Along with the LIC AAO salary and the reputable job profile, the candidates also can get promoted to higher levels if they are eligible and cognizant. After gaining certain years of experience, AAOs can get promoted as Administrative Officer (AO)--Assistant Divisional Manager (ADM) -- Divisional Manager -- Senior Divisional Manager -- Zonal Manager, and so on. There are also chances to move to other departments through internal posting based on your performance / Inclination. There you can become Assistant Branch Manager (ABM) and then Branch Manager (BM).

            What are the allowances received by the Officers along with the LIC AAO salary?

            With the remunerative LIC AAO salary structure and the reputed job profile, they are also entitled to numerous perks, allowances, and reimbursements. The allowances and perks are DA, HRA, CCA, transport allowance, furniture allowance, leave travel concession, etc. The reimbursements are as mentioned, newspaper reimbursement, entertainment, househelp reimbursement, meal coupons, etc. But please note that allowances and reimbursements may vary from city to city and are completely based on promotions.