Those Candidates who are focusing to make their career in insurance sector, have dreams to work with India’s Insurance sector Leader Life Insurance Corporation (LIC) of India. LIC AAO Officer is a one of the prestigious and most sought career in India in the field of government job. The reason behind this is the in hand salary, lucrative perks, better future prospects and respect in the family & in the society. Every year larger number of insurance aspirants give their best to get the tag of LIC.
LIC AAO Officer Salary Structure
LIC AAO Basic Salary
Every year for first 14 years
Every year For the next 4 years
LIC AAO Officer Allowances
House rent allowance : LIC AAO Officer most likely gets 2/3 BHK upon confirmation. In some case, if someone has been not allocated a flat, LIC gives HRA depending on Place of Postings.
Allowance for OPD treatment (Non hospitalisation)- The LIC AAO can claim bills of upto 4000 per month for OPD treatment.
Dearness Allowance- 40 percent of Basic
City Compensatory Allowance(CCA)- 0% – 4% of the basic pay (Location dependent)
Medical Insurance- 100 percent coverage for the employee and 75 percent coverage for the dependent.
Furniture Allowance- 1.20 lakhs plus GST ( For electronic furniture it’s 60 thousand plus GST which is reinstated after 3 years and for non- electronic it’s 60 thousand plus GST which is reloaded after 5 years.)
Leave Fare Concession Travel (LFC):One of the best perks of LIC is LFC Travel allowance. Once in two years for self, spouse and eligible dependents. Bank provides around Rs 107000 per person for this.
Petrol allowance- 150 Liters of petrol. (30 liters of extra petrol for all those living in Mumbai, Delhi, Chennai or Bangalore)
Entertainment allowance – 3 thousand in every three month.
Loan Benefits-Officers can get credits and advances at a substantially less expensive rate for Housing, Vehicle, and Computers and so on and according to the bank’s policies.
Education allowances:- Selected officers will receive education allowances for their family. The Annual reimbursements of education allowances are up to Rs. 4000/per month.
LIC AAO Salary In Hand
At present, initial monthly gross emoluments are ₹65 k/- (approx)
LIC AAO Annual Package
The minimum cost to company (CTC) 9 lakhs and maximum CTC is 11 lakhs. The variation totally depends on the place of posting
LIC AAO Officer Job Profile
Supervise the functioning of the assigned departments
Provide assistance to clients and customers as and when necessary.
Research and formulate new schemes
Manage and file claims and settlements
LIC AAO Officer Career Path
Along with handsome salary and allowances, there are immense opportunities to grow.
Designed :- Birm Infotech
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