LIC AAO Salary Job Profile: Salary of AAO in LIC- Life Insurance Corporation (LIC) has released the official advertisement for the post of Assistant Administrative Officer (AAO). Life Insurance Corporation of India (LIC) is an Indian state-owned insurance group and investment company headquartered in Mumbai. It is the largest insurance company in India. The selected candidates need to undergo a probation period of one year which may be extended to another year as per the decision of the organisation. Also, the candidates need to sign a Guarantee Bond before joining.
LIC AAO Salary Job Profile⇓⇓⇓
LIC AAO Salary Job Profile Probation Period:
A candidate appointed in the Officers’ cadre shall be on probation for a period of one year from the date of joining the duty. The probation period may be extended for another year.
LIC AAO Salary Job Profile Guarantee Bond:
Before joining as a Probationer, candidates will be required to give an undertaking to serve LIC for a minimum period of four years from the date of joining (including probationary period) failing which, he/she or his /her heirs, executors, administrators will be liable to pay liquidated damages of Rs.200, 000/-only (Rupees Two Lakh only) or the sum of amount the Executive Director (Personnel) may prescribe from time to time. The candidate will have to submit Deed of Indemnity at his/her cost, duly stamped, the stamp value of which will be as applicable to the State in which the deed is executed by the candidate.
LIC AAO Salary Job Profile:
Basic pay of Rs. 32795/- per month in the scale of Rs. 32795- 1610(14) –55335– 1745(4) –62315 and other admissible allowances as per rules will be given to the AAOs in LIC. The total emoluments at the minimum of the scale, inclusive of House Rent Allowance & City Compensatory Allowance wherever admissible depending upon the classification of the city, will be approximately Rs 56,000/- per month in ‘A’ Class city.
There are other benefits associated with these posts which are as follows:
- Defined Contributory Pension
- Special Allowance for passing Actuarial Examination
- Cash Medical Benefits
- Group Mediclaim
- Group Personal Accident Insurance
- Group Insurance
- Vehicle Loan (2-wheeler/4 wheeler) as per rules
- Meal coupon
- Reimbursement towards cost of Brief case/leather bags
- Mobile handset and mobile expenses as per rules
- Supply of dailies and magazines and tea/coffee
- Company’s / leased accommodation
Candidates selected for the post of Assistant Administrative Officer (Chartered Accountant) with two years post qualification work experience on the date of eligibility are eligible for two advance increments.
LIC AAO Salary Job Profile
The candidates should know the job profiles of these Officers. Here are the details:
Job Profile of Generalists
Generalists are those Officers who are not from the technical fields like finance, legal etc. They are responsible for the settlement of the claims made by the customers. They are also responsible for the underwriting process and assessment of the risk. The Generalists also supervise the work done by their assistants. They are broadly responsible for the verification of the risk proposals and the authenticity of the claim made.
Job Profile of IT Officer
The IT Officers are to make sure that the functioning of the organisation remains smooth with strong tech support. IT Officers are required to take care of software and network systems, maintenance of databases, servers, evaluating new technology for improvement of the overall working etc.
The IT Officer is responsible for providing end-to-end support. He provides the solution bridge between the customer and the organisation for the smooth functioning.
Job Profile of CA
A Chartered Accountant gives financial advice; audits account books and provide genuine information about financial records. The job responsibility also involves financial reporting, taxation, forensic accounting, corporate financing, business recovery and insolvency etc. Working as a CA, the aim should be to maximise the profitability of the organisation.
Job Profile of Actuarial Officer
Actuaries analyse the financial costs of risk and uncertainty for an organisation. The Actuarial officer uses mathematics, statistics and financial theory to assess the risk and develop policies that minimize the cost of risk. Actuaries’ work is important to the insurance industry. An Actuarial Officer has to design, test and administer insurance policies, investments, pension plans, and other business strategies.
Job Profile of Rajbhasha Officers
A Rajbhasha Officer is the official who is responsible for using the official language of the country i.e. Hindi as much as possible in the operations of the organisation like in circulars, notices etc. The officer should be well versed in Hindi and Sanskrit so that the use of the language is not neglected in the day to day operations. He is also responsible for the promotion of the official language.