LIC AAO Salary 2021: In-hand, Salary Structure, Allowance, Perks, Job Profile & Promotion

Are you willing to work in the banking sector, and preparing for the banking examination? If yes, then you are having a good opportunity through the LIC AAO recruitment. As we all know every year Life Insurance Corporation of India releases vacancies for the recruitment of the LIC AAO. In the year 2020, the notification was released in February, and the exam was scheduled to be held on 4 April 2020, but due to the COVID-19 pandemic situation it was postponed and till now, the dates are not yet released. But it is expected to be released soon. Today, in this article, we are going to provide you the detailed In-hand, Salary Structure, Allowance, Perks, Job Profile & Promotion.

LIC AAO Salary Structure: Pay Scale

The basic pay starts with Rs 32795, where there will be an increment of Rs 1610 for 14 years

With Rs 55335 as the next basic pay, the increment amount will be Rs 1745 for the next four years.

After 4 years, 62315 becomes the next basic pay, which becomes the maximum basic pay of a LIC AAO.

Allowances of LIC AAO Salary

As per the salary slip, the allowances included in the salary are listed. These allowances are an appeal to the candidates. Please note that these allowances may vary from city to city. The Approximate value for A-class city is Rs 57000/- per month.

Allowance List

Defined Contributory Pension

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 of cost of Briefcase/leather bags

Mobile handset

Supply of dailies and magazines

Tea/coffee

Mobile expenses

LIC AAO Job Profile

The job/ working profile of LIC Assistant covers Clerical Duties such as cashier, single-window operator, customer service executive

Other important roles include:

  1. Management of cash counters, managing customer grievances and public relations
  2. Management of sales documents- policies, claims, settlements
  3. Back end office work also comes under the role.

After Selection as LIC AAO

A period of 1 year is mandatory for the selected candidates. This may also extend up to two years. The candidates may be posted or subsequently transferred anywhere in India.

Candidates will be required to give the undertaking to serve LIC for a minimum period of four years from the date of joining including the probation period.

Not abiding by the undertaking rules, the candidates will be required to pay liquidated damages of Rs.5,00,000/-only (Rupees Five Lakhs only) + GST or the sum of amount the Executive Director (Personnel) may prescribe from time to time

Also Check:  LIC AAO Syllabus 2021: Detailed Subject-Wise AAO Syllabus & Exam Pattern

LIC AAO Promotion

Everyone who is working in a government sector, gets a promotion in his job period. With the increments, the LIC AAO is expected to be getting higher grade assistants. It will also depend upon the performance and experience of the candidate.

Candidates selected for the post of LIC Assistant Administrative Officers (Chartered Accountant) with two years post qualification work experience on the date of eligibility are eligible for two advance increments.

We hope that this information will be useful for all the candidates who are preparing for the LIC AAO examination

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