LIC AAO Salary | Perks and Benefits of LIC AAO
LIC AAO Salary | Check complete details of Life Insurance Corporation of India Assistant Administrative Officer Payscale. Get to know more about the job profile, career growth and much more in the article below
LIC AAO Salary Structure 2019
The insurance sector of India is rapidly growing at a very fast rate. As per the figures issued by every major insurer of India, people are buying more and more insurance policies than ever before. The most asked questions by a lot of candidates are about the LIC AAO Salary.
The table below has some important and main LIC AAO Exam Highlights for the year 2019:
Check: LIC AAO Recruitment
|LIC AAO Recruitment: An Overview|
|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)|
What does a LIC AAO Earn – LIC AAO Salary
Working as LIC AAO is obviously a lucrative job. According to the latest data available, a LIC AAO draws a net monthly salary of Rs.40,250/-.
- The LIC AAO salary, however, can vary according to your location.
- The reason for this variation is, LIC AAOs are given House Rent Allowance and City Compensatory Allowance according to the place where they are working.
- In large metropolitan cities, HRA and CCA are higher since the officers have to pay more for housing and other basic amenities.
- Reports suggest a LIC AAO salaries are likely to increase.
- However, we are unable to independently verify these reports.
- Generally, LIC AAO salary is based upon various criteria the Indian government stipulates.
See: LIC AAO Admit Card
Other Perks & Benefits of LIC AAO
The LIC AAO has so many perks, advantages and benefits. The following mentioned are some of those, all candidates must check:
- Housing loans at very low interest rates.
- All holidays specified by the Indian government.
- Provident Fund according to the Government of India rules.
- Membership of various cooperative societies of LIC.
- Paid annual holidays and leave travel allowance for self and family.
- Pension in line with the latest policies for government employees, stipulated by Pension Fund Regulatory and Development Authority of India.
- Medical Insurance
- Loans for buying two and four wheeler vehicles at a very low interest rate.
Also Check: LIC AAO Result 2018
The table below has all the allowances mentioned that the LIC AAO is provided along with the Salary:
|LIC AAO Salary: Other Allowances|
|House Rent Allowance (HRA)||The HRA highly depends on the location of the job. Based on whether the LIC AAOs get 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 also depends on 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.|
LIC AAO Job Profile
Basically, it is a desk job, meaning you don’t have to travel much except between home and workplace. Given below are some tasks which a LIC AAO Has to perform:
- Insurance Market Analyzing
- Keeping an eye on competitors products
- Coming up with new insurance schemes and products for LIC
- Resolving issues and problems of LIC Clients
- Giving Assistance to LIC’s field staff by providing the required back office support
Check: LIC AAO Cut Off
The students must check out the following table to know the Responsibilities of LIC AAO:
|LIC AAO Roles & Responsibilities|
|1. LIC AAOs have to help the Administrative Officer or the head of the department for the supervision of the general functioning of the department|
|2. They also have to perform all the tasks which are assigned by the head of the department|
|3. They will be coordinating and communicating with other departments, as well|
|4. They will assist the clients and customers whenever there is a requirement|
|5. They will research and formulate new ideas and schemes|
|6. They will supervise and investigate the existing schemes and policies too is the job of LIC AAOs. They have to look for any kind of bug or error in the existing schemes|
|7. LIC AAOs will manage and file claims and settlements|
It is one of the best and highly paid jobs. The candidates need to plan a career in LIC in order to become an AAO and rise up to a certain rank of India’s premier insurer. Moreover, LIC career provided you with a lifelong source of income and attractive perks.
We hope that the aspirants have gathered all the information from our article on LIC AAO Salary. In case any individual has any query, they can always comment in the comment box below. We would be more than happy to help.
Share your thoughts/queries here!