LIC AAO Salary 2024 Revised, In-hand Salary, Pay Scale, and Job Profile

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LIC AAO Salary

The Life Insurance Corporation of India provides attractive salary to students appointed as Assistant Administrative Officers. The Ministry of Finance(Department of Financial Services) has revised the salary structure which has been made available through the LIC Wage Revision Notification. The scale of pay for the Assistant Administrative Officers is Rs. 88,635-4,385(14)-1,50,025-4,750(4)-1,69,025 which has been revised from the earlier, Rs. 53600- 2645(14) –90630– 2865(4) –102090. The position of AAO offers ample opportunities for career advancement making it an appealing choice for aspirants seeking professional growth in their career.

LIC AAO Salary 2024

Individuals aiming for a career at the Life Insurance Corporation of India as AAO must be acquainted with the LIC AAO Salary 2024. The role is widely desired in the insurance sector due to its attractive salary package. Additionally as it is a central government position, the LIC AAO role promises favorable career opportunities further increasing the attractiveness. The detailed LIC AAO Salary 2024 has been discussed in the given post.

LIC AAO Salary Structure

Securing a LIC Assistant Administrative Officer post is bound to instill a sense of fulfillment in candidates, primarily due to its status as a central government job. The salary structure for LIC AAO follows a pay scale of Rs. 88,635-4,385(14)-1,50,025-4,750(4)-1,69,025. Moreover, the promising career prospects associated with this role further contribute to its attractiveness as a career path. The LIC AAO Salary package presents a significant opportunity for aspirants to establish themselves. A breakdown of the salary of LIC AAO 2024 in given below:

  • Basic Pay: Rs. 88,635
  • Maximum Basic Pay: Rs. 1,69,025

LIC AAO Salary 2024: Deductions

The In-Hand Salary that an Assistant Administrative Officer in LIC receive is after the deductions made in the gross salary. There are certain deductions in the LIC AAO Salary which includes Income Tax, New GI Scheme, Prof. Tax, GIS Premium, etc.

LIC AAO Salary 2024: Increments

Initially, the basic pay commences at Rs. 88,635, with increments of Rs. 4385 for a duration of 14 years. Subsequently, the basic pay rises to Rs. 1,50, 025 with increments of Rs. 4750 for the following four years. Following this period, the basic pay reaches to Rs. 1,69,025.

LIC AAO Salary: Increments
YearBasic PayIncrement
1-14Rs. 88,635Rs. 4,385 (per year)
15-18Rs. 1,50,025Rs. 4,750 (per year)
19Rs. 1,69,025

LIC AAO Salary Perks & Benefits

Various allowances are outlined and included in the total salary package. These allowances serve as an attractive incentive for candidates. It’s worth noting that these allowances might differ based on the city of employment. Here is the list of all the allowances that an LIC AAO is entitled to:

LIC AAO Salary Allowances
AllowanceCriteriaRate
House Rent AllowanceCities with Population of 45 lakhs and above10 % of pay, subject to a maximum of Rs.13,000/- per month
Cities with Population Exceeding 12 lakh but less than 45 lakh8% of pay, subject to a maximum of Rs.11,000/- per month
Other Places7% of pay, subject to a maximum of Rs. 10,500/- per month.
City Compensatory AllowanceCities with Population of 45 lakhs and above3% of pay, subject to a maximum of Rs.3,300/- per month
Cities with Population Exceeding 12 lakh but less than 45 lakh2.5% of pay, subject to a maximum of Rs. 3,100 /- per month
Cities with Population Exceeding 5 lakh but less than 12 lakh2% of pay, subject to a maximum of Rs. 2,400 /- per month
Hill AllowancesPosted at a place situated at a height of 1,500 metres
or more above the mean sea level
2.5% of basic pay subject to maximum of Rs.2,055/-per month
Posted at a place situated at a height of 1,000 metres or more but less than 1,500 metres above the mean sea level2% of basic pay subject to maximum of Rs.1,650/- per month
Located at an altitude of at least 750 meters above sea level, this place is accessible solely through hills towering at 1,000 meters or higher.2 % of basic pay subject to maximum of Rs.1,650/- per month
  • Defined Contributory Pension.
  • Gratuity.
  • LTC.
  • Cash Medical Benefit.
  • Group Mediclaim.
  • Group Personal Insurance.
  • Vehicle Loan (2-wheeler/4-wheeler) as per rules.
  • Sodexo meal coupons.
  • Mobile Expenses.
  • Supply of Dailies and Magazines.
  • Reimbursement of cost of Briefcase/leather bags.

LIC AAO Salary: Job Profile

Some of the roles and responsibilities of a LIC Assistant Administrative Officer (AAO) are listed below:

  • LIC Assistant Administrative Officer has to formulate new schemes and check the already existing and new policies.
  • LIC Assistant Administrative Officer has to supervise and file claims and settlements of the customers.
  • Rendering assistance and coordinating with the respective other departments as well.
  • Maintaining cordial relations with the customers, interacting with them, and coming up with solutions to their queries.
  • Completing tasks on time, as assigned by the higher departmental authorities.
  • Inspection of existing facts and pointing out factual errors.

LIC AAO Salary 2024: Probation Period

Candidates selected for the position of LIC Assistant Administrative Officer (AAO) has to be on probation period for one year from the date of joining. The period of probation can be extended up to two years, during which the performance of candidates will be monitored according to the corporation’s extant policy. As per the policy of the organization, the candidate who do not meet the expectation can be terminated.

LIC AAO Salary 2024: Guarantee Bond

Life Insurance Corporation of India has specified a guarantee bond for the candidates appointed as Assistant Administrative Officer (AAO). Aspirants have to give an undertaking to serve the organization for a minimum period of four years from the date of joining including the probation period. Due to any of the circumstances, candidates do not fulfill the undertaking then they have to pay the liquidated damages of Rs.5,00,000/+ GST or the sum of amount the Executive Director (Personnel) may prescribe from time to time.

LIC AAO Salary: Promotion

Everyone who is working in the government sector gets a promotion in his job period. With the increments, the LIC AAO is expected to be getting higher-grade assistants. It will also depend upon the performance and experience of the candidate.

  • Administrative Officer
  • Assistant Divisional Manager
  • Divisional Manager
  • Senior Divisional Manager
  • Zonal Manager

FAQs

What is the initial basic pay of LIC AAO?

The initial basic pay of LIC AAO is Rs. 88,635.

What is the maximum basic pay of LIC AAO?

The maximum basic pay of LIC AAO is 1,69,025.

What is the probation period for LIC AAO 2024?

A candidate after appointment shall be on probation for a period of one year from the date of joining.

What are the various allowances included in the LIC AAO Salary 2024?

The various allowances included in the LIC AAO Salary 2024 are DA, HRA, CCA, etc.

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