The Insurance Sector has gained monumental popularity over the past few years. Candidates who previous aimed for Banking Jobs are now showing keen interest in building a career in the insurance sector. The Life Insurance Corporation of India will be conducting the recruitment exam for the post of LIC Assistant Administrative Officer. This is commonly known as LIC AAO. This year, a lot of candidates have applied for this post and the competition will be tough. But, there are still lots of candidates and first time applicants who are unaware of numerous facts regarding job profile, pay scale, salary and career path of an LIC AAO.
Hence, to provide a better clarity regarding LIC AAO Job Description, Responsibilities, Salary and Career Path, please read this article very carefully. And if you are confused regarding LIC AAO and ADO (Apprentice Development Officer), refer to the link provided below.
Once you are done reading the Insurance Job Comparison, redirect your attention towards this article.
LIC AAO Job Profile – Duties and Responsibilities
One of the most popular and well known job profiles of the Insurance Sector is of an LIC Assistant Administrative Officer. The Job Description of an LIC AAO primary revolves around administrative aspect of Insurance. Being an Assistant Post, you will be working under a supervisor or department head, who will guide you in various tasks.
The job role and responsibilities of an LIC AAO are quite a few, but the most prominent ones are as follows.
- Managing and Filling Claims and Settlements.
- Interacting with Specific Clientèle.
- Inspecting existing policies for errors or misleading fact.
- Devising new schemes for the company to either replace an existing one or strengthen it.
- Coordinate with other departments in issues related claims, settlements, policy revision, guidance etc.
The aspect of travelling on work assignments is quite rare but not non-existent. There might a few instances where you have to travel to a certain place for some assignment. After reading this, there must be a few questions in your mind. Questions like,
What is the work culture of an LIC AAO?
Is the job hectic or easy going?
Will an LIC AAO be able to enjoy a healthy work-life balance?
Where does an LIC AAO get posted or transferred?
If you have these questions in your mind, don’t worry. Our next section will help in gaining more clarity regarding the work environment, job pressure and work schedule of an LIC AAO.
LIC AAO Work Culture, Environment and Schedule
The post of LIC AAO is of an entry-level managerial executive. As an LIC AAO, you will be taught finance, administration, human resource, project planning etc. which help you in completing your tasks on a daily basis.
Since an LIC AAO is mostly assigned administrative work, he/she needs to complete the daily quota of paper work, which includes filing and double-checking documents related policies, claims, settlements, accounts, etc. Sales Procurement and Acquisition do not fall in the domain of Assistant Administrative Officer in LIC.
An LIC AAO has 5-day a week schedule with regular office hours. You can complete your tasks in the designated time period and head home on time. Weekends are non-working. Hence, with a little bit of time management, you can have an amazing work-life balance.
Yet another reason why more and more candidates prefer LIC AAO over Banking Jobs is because the job posting in the case of LIC AAO usually occurs Tier 1 and Tier 2 Cities. Hence, you don’t need to worry about drastic changes in your life style.
Now let us talk about yet another important factor in deciding whether to go for a career in LIC Administration or not – the pay scale.
LIC AAO Salary, Pay Scale and Job Perks
The Insurance Sector is definitely a golden goose in terms of monthly compensation, salary and pay package. You can truly lead a comfortable and well-off life while working as an LIC AAO.
As per current information, the scale is Rs. 17240-840(14)-29000-910(4)-32640. Hence, the monthly compensation of an LIC AAO ranges from Rs. 30,000-35,000.
Note: This pay scale is under revision as the Govt. agreed for a 15% hike.
This means that the final salary of an LIC AAO might land in the area of more than Rs. 40,000/- per month. But the gravy train ride does not end here.
The Life Insurance Corporation of India also provides a number of job perks and benefits to LIC AAO in the form of
- Transport Allowance
- Dearness Allowance
- House Rent Allowance
- City Compensatory Allowance
- Medical Benefits
- Vehicle Loan (2 wheeler/4 wheeler)
Other benefits include Defined Contributory Pension, Special Allowance for passing Actuarial Examination, Gratuity, LTC and Cash. Not bad, isn’t it?
LIC AAO Career Path and Job Promotion
The Life Insurance Corporation of India has a relatively slow scale for promoting employees to higher ranks. As an LIC Assistant Administrative Officer, your first promotion will be of an Administrative Officer.
But, in order to advance to this post, the minimum eligible years of service is 8 years. Hence, you need to work consistently for 8 years in order to be deemed worthy for promotion. The career path of an LIC AAO goes as follows.
- Assistant Administrative Officer (AAO)
- Administrative Officer (AO)
- Assistant Branch Manager (ABM)
- Branch Manager (BM)
- Senior Branch Manager (SBM)
- Marketing Manager (MM)
- Divisional Manager (DM)
- Senior Divisional Manager (SDM)
Your promotion scale will definitely increase your salary and the number of added benefits and perks which comes with the job promotion.
Excited about the amazing life of LIC AAO? Wish to be one? Here is how you become an LIC AAO.
LIC AAO – How to get Recruited?
For LIC AAO Recruitment 2016, there are 700 vacancies. Candidates who have completed their Bachelors Degree and lie in the age bracket of 21 to 30 years could apply for LIC AAO. Although the registration for this year was closed long back, candidates can still know more about the recruitment process.
The selection procedure for LIC AAO is quite straightforward. There is a written objective examination followed by an interview of shortlisted candidates. The LIC AAO Syllabus is not static but the time allotted is 2 hours. In these 120 minutes, you will be facing 160 Questions.
LIC AAO Exam Pattern
|Name of the Section||Number of Questions||Marks Allotted|
Note: The English Language Section will be only qualifying in nature.
- Total Number of Questions – 160
- Total Marks – 300
- Time Allotted – 2 Hours (120 Minutes)
The written examination has negative marking as well as sectional and overall cutoff. You can read in a more elaborative format from the links below.
We hope this article helps you in understanding LIC AAO Job Profile Better. We wish all the LIC AAO candidates Best of Luck for the upcoming AAO exam on 5th, 6th and 13th March.