The Life Insurance Corporation of India (LIC) is one of the most prestigious organizations to work for in the insurance sector. The role of an Assistant Administrative Officer (AAO) in LIC is highly sought after, not just for the prestige but also for the attractive salary and benefits. This article aims to provide a detailed breakdown of the salary, allowances, and benefits that an AAO can expect at LIC.
Basic Pay and In-Hand Salary
The basic pay for a LIC AAO starts at Rs. 32,795, and the in-hand salary amounts to approximately Rs. 80,870. This makes it one of the most lucrative job profiles in the insurance sector.
Salary Structure
The salary structure for a LIC AAO is as follows:
- Basic Pay: Rs. 53,600
- Special Allowance: Rs. 4,500
- Dearness Allowance (29.36%): Rs. 17,058
- House Rent Allowance (7% for Z Class City): Rs. 3,752
- Transport Allowance: Rs. 1,960
- Gross Salary: Rs. 80,870
Allowances and Benefits
LIC AAOs are entitled to a range of allowances and benefits, including:
- Dearness Allowance: To counter inflation.
- House Rent Allowance: For housing.
- Transport Allowance: For daily commuting.
- Special Allowance: An additional perk.
- Group Insurance: For financial security.
- Leave Travel Concession: For travel benefits.
- Medical Facility: For healthcare.
Additional Perks
In addition to the salary and allowances, LIC AAOs also enjoy other perks such as:
- Accidental Insurance: For unforeseen circumstances.
- Loan Facility for Personal Vehicle: To assist in purchasing a vehicle.
- Meal Coupons: For daily meals.
- Mobile and Other Daily Requirement Expenses: To cover miscellaneous expenses.
Career Growth
Career growth is an important aspect for any job seeker. LIC AAOs have the opportunity for promotions based on seniority or by clearing departmental exams. The career progression includes:
- Administrative Officer
- Assistant Divisional Manager
- Divisional Manager
- Senior Divisional Manager
- Zonal Manager
Job Profile and Responsibilities
LIC AAOs have a diverse set of responsibilities, including:
- Formulating new schemes and overseeing existing and new policies.
- Supervising and filing claims and settlements.
- Assisting and coordinating with other departments.
- Resolving customer issues and maintaining cordial relations.
- Completing tasks assigned by higher authorities on time.
Conclusion
The role of an Assistant Administrative Officer in LIC is not just prestigious but also financially rewarding. With a plethora of allowances and a decent pay scale, it is a sought-after position for those interested in the insurance sector.
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