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LIC Assistant Salary 2022 Revised Basic Pay, In-hand Salary & Perks

LIC Assistant Salary 2022: Life Insurance Corporation(LIC) is the largest insurance company in India and a very reputed organization. The candidates who join LIC at the post of LIC Assistant receive a lucrative salary package. The Pay Scale of a LIC Assistant is Rs.27,840-840(1)-28,680-915(2)-30,510-1030(5)-35,760-1195(2)-38150-1455(3)-42,515-1510(2)-45,535-1610(5)-53,585. Other than the basic pay the LIC Assistant employees are also given several types of perks and allowances. The LIC Assistant Salary may vary as per the place of posting. In this article, we have provided all the information related to the LIC Assistant salary 2022 like salary structure, job profile, career growth, etc.

LIC Assistant Salary 2022

The LIC Assistant salary is exceptionally good in comparison to other joining level job profiles in the banking sector & insurance sectors. The candidates who want to pursue their career in the insurance sector consider LIC Assistant as one of the most preferable jobs. LIC assistant notification is expected to be released in the upcoming months. So it is advisable for aspirants to start preparing for LIC assistant without wasting their time. In this post, we have discussed the revised LIC Assistant Salary Structure as per the 7th Pay Commission. The job profile of a LIC Assistant is regarded as stable and secure in terms of financial status, social status and Job security.

LIC Assistant Syllabus & Exam Pattern 2022

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LIC Assistant Salary 2022: Salary Structure

The LIC assistant salary is quite decent. Aspirants looking for their future in this field must be curious to know about the salary of LIC Assistant. The Basic Pay of LIC Assistant is Rs. 27,840 per month. Here we have given below the salary structure of LIC Assistant 2022.

Earnings Amount
Basic Pay Rs. 27,840
DA Rs. 10,553.14
DA (Arrears) Rs. 176.27
HRA Rs. 1987.65
Transport Allowance Rs. 680
Temp Cash Allowance Rs. 800
Cadre Spl. Allowance Rs. 2000
Tech Exam Allowance Rs. 555
Tech Exam Allowance (Arrears) Rs. 555
Gross Salary Rs. 45,147.06
Deduction Rs. 6731.06
Net Salary Rs. 38416.00

LIC Assistant Salary 2022: Deductions

A certain amount of money get deducted from the LIC Assistant Salary and then the net salary is calculated. The complete list of deduction is described in the table below.

Name of the Deductions Amount
NPS-DCP Optees Rs. 3825
Mediclaim Rs. 158.92
New GI Scheme Rs. 97
GTIS’ 97 Rish Pr Rs. 196
Opynl Mediclaim Rs. 613.92
GID Premium Rs. 1840
SR A/C Credit Rs. 0.22
Total Deductions Rs. 6731.06

LIC Assistant Salary 2022: Increments

An employee designated at the post of LIC Assistant receives increments at regular time period. The increment get ceased when the basic pay reaches to a maximum amount of Rs. 53,585 and it continues till the employee attains retirement. The increments in the LIC Assistant Salary 2022 is discussed below.

Basic Pay Increment Amount Years
Rs. 27,840 Rs 840 1 year
Rs 28,680 Rs 915 2 years
Rs 30,510 Rs 1030 5 years
Rs 35,760 Rs 1195 2 years
Rs 38150 Rs 1455 3 years
Rs 42,515 Rs 1510 2 years
Rs 45,535 Rs 1610 5 years
Rs 53,585

LIC Assistant Salary 2022: Perks and Allowances

The LIC Assistant’s salary is not just limited to the pay scale. Various other perks and allowances are provided to the employee, which makes it a major reason for attraction for Candidates across the country. Apart from these, there are other perks & allowances

  1. Cash Medical Benefit
  2. Group Medi-claim
  3. Group Personal Accident Insurance
  4. Group Insurance
  5. Vehicle Loan (2-wheeler) as per rules
  6. Graduation Increment
  7. House Rent Allowance & City Compensatory Allowance
  8. Defined Contributory Pension
  9. Gratuity
  10. LTC

LIC Assistant Salary 2022: Job Profile

It is also important for candidates aspiring to appear for LIC Assistant Exam 2022 to know about the job profile of the LIC Assistant. The responsibilities of  LIC Assistant include the following:

  • LIC Assistants are responsible to perform various duties of Clerical Staff ranging from Cashier, Single Window operators, to Customer Service Executives, etc.
  • Assistants manage cash counters, processing and sanctioning or disbursement of files assigned by the Assistant manager.
  • They must also perform back-office work, Account related work, and recovery as per the work assigned by the manager.
  • They must also dispense with customer grievances.
  • LIC assistants have to be responsible for processing and reviewing insurance documentation and ensuring that all documents are complete.
  • They are required to Manage Sales documents & other documents related to policies, claims, settlements, accounts, etc.
  • The LIC Assistants have to handle online/ offline transactions.

LIC Assistant Salary 2022: Career Growth

Working in the insurance sector can provide you very different career prospects. Once appointed as Assistant shall be on probation for a period of six months from the date of appointment which can be extended up to one year. It is only after the successful completion of the probation period, the Trainees are to be appointed to their respective positions. LIC assistants are also transferred to other departments depending upon internal requirements as well as the interest of the employees. Employees get promotions based on their years of experience and performance. Employees may also give Departmental examinations and get promoted to higher posts.

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FAQs: LIC Assistant Salary 2022

Q.1 What benefits are given to LIC Assistant apart from the salary?

Ans. Apart from the decent salary, a LIC Assistant is liable to get HRA, Medical allowance, Travel allowance, dearness allowance, pension benefits, provident fund, and various other perks.

Q.2 What is the starting basic pay of an LIC Assistant?
Ans. The starting basic pay of an LIC Assistant is Rs. 27,840 per month.
Q.3 What is the Net Salary of an LIC Assistant?
Ans. The Net Salary of an LIC Assistant is Rs. 38416 per month.
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