LIC AAO Salary
Candidates always wonder if these insurance jobs are as good as jobs in the banking sector. We have generally received many questions about the LIC AAO job profile, the duties of the AAO in LIC, the pay structure and the prospects of growth of this position. LIC AAO Salary
A quick search on the internet will give you several thousand hits on banking jobs but comparatively few will be found related to insurance jobs. This is because there is little awareness about the insurance exam and the jobs they get. This is evident as banking exams are conducted more frequently and a large number of seats are out. So we have given you a starter guide for all the things you need to know before applying for LIC AAO . Here are 5 important things you should know so that you can make informed decisions about your career. Read the following article on LIC AAO Job Profile and understand the details of work, salary and other related details. LIC AAO Salary
LIC AAO Job Profile:
LIC AAO Job Profile mainly involves more administrative functions than roles interacting face-to-face with customers. The list of tasks you do include, but is not limited to, the following:
- Monitoring and analysis of currently running policies
- Planning of new schemes / policies
- Claims processing (filing and management)
- Interacting with customers and solving their queries
- Communicating across departments
- To perform other duties as specified by his officer-in-charge from time to time.
Travel
AAOs are not usually required to travel. However, many times they may have to travel to do some work. But as they are not required to interact with customers, these trips are rarely done for selling policies.
Salary Structure:
- Pay scale of LIC AAO is 17240-840 (14) -29000-910 (4) -32640 (under revision).
- Total emoluments in a metropolis including house rent allowance and city compensation allowance is approximately INR 40,245 Per month. LIC AAO Salary
- Medical Benefit, Group Mediclaim, Group Personal Accident Insurance, Group Insurance, Vehicle Loan (2 wheeler / 4 wheeler) According to these rules are available.
- Other benefits defined include contributory pension, special allowance for passing actuarial examination, gratuity, LTC, cash Are included. LIC AAO Salary
LIC AAO Salary
As per official notification, basic pay will be paid as per pay scale 32795- 1610 (14) –55335– 1745 (4) –62315 on 32795 per month and other allowances will be given as per rules. The total emoluments of the scale are minimal, which may vary slightly according to your posting. The total A ‘Class City including House Rent Allowance, City Compensatory Allowance etc. will be 57,000 / salary per month.
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Career Prospects:
LIC is one of the largest players in public sector insurance companies. Being an old company, retirement is at senior level every year. Therefore, new recruits are better off with a fair chance to move forward.
There are two career paths:
1. You are promoted as Administrative Officer (AO) after a few years in the job.
2. You can move to another department depending on your performance / inclination. There you can become Assistant Branch Manager (ABM) and then Branch Manager (BM).
The timeline for promotion depends on factors such as performance, vacancy, etc., although it is usually about 5 years between two promotions.
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LIC AAO Salary