LIC Assistant Salary 2024, Revised Basic Pay, In-hand Salary & Perks

LIC Assistant Salary 2024

LIC Assistant Salary is one of the best in the insurance sector. Life Insurance Corporation is a top public sector insurance company, with great career opportunities for candidates. LIC offers a great salary and job profiles along with good learning opportunities. With the latest revision in the LIC Salary structure, the basic pay of LIC Assistant is now Rs. 38,675, which is very lucrative and attractive by all standards. Knowing the revised basic pay, in-hand salary, and perks is crucial for financial planning. It helps employees understand their earnings, allowances, and deductions, allowing them to manage their budget effectively. This article here all the information on LIC Assistant Salary 2024 and job profile.

LIC Assistant Salary

The LIC Assistant Salary 2024 details will be mentioned in the official notification. The salary structure in LIC is subject to time-to-time revisions as in recent years the LIC Assistant Salary has been revised. Along with that, the candidates who are selected will entitled to receive various perks and allowances. The space below has the complete details on LIC Assistant Salary 2024.

LIC Assistant Salary 2024: Overview

For individuals considering a career with LIC or those already employed, understanding the salary structure aids in making informed decisions about job opportunities and career paths. Here is a brief overview of LIC Assistant Salary 2024. You can get all the information on salary and the LIC Assistant Exam 2024 here.

LIC Assistant Syllabus & Exam Pattern 2024

LIC Assistant Salary 2024: Salary Structure

The LIC Assistant Salary after the latest Settlement is Rs. 38,675 monthly.  The overall salary structure for an Assistant in LIC is very attractive. Salary structures, especially in government-related organizations like LIC, can be influenced by government policies, revisions, and negotiations. Here is the detailed LIC Assistant Salary Structure.

LIC Assistant Salary 2024: Deductions

There are a few deductions from the LIC Assistant Salary the details of which are as follows:

LIC Assistant Salary 2024: Increments

An employee designated at the post of LIC Assistant receives increments at a regular period. The limit of increments is the maximum amount of basic pay that will be announced soon and it continues till the employee attains retirement.

LIC Assistant Salary 2024: Perks and Allowances

The LIC Assistant Salary 2024 is not just limited to the pay scale. Various other perks and allowances are provided to the employee. LIC employees may also receive other benefits such as medical coverage, group insurance, and pension benefits. Here are a few allowances that the candidates receive besides the LIC Assistant Salary.

1. Cash Medical Benefit
2. Group Medi-claim
3. Group Personal Accident Insurance
4. Group Insurance
5. Vehicle Loan (2-wheeler) as per rules
6. Graduation Increment
7. House Rent Allowance & City Compensatory Allowance
8. Defined Contributory Pension
9. Gratuity
10. LTC

LIC Assistant Salary 2024: Job Profile

To prepare for the LIC Assistant Exam, candidates need to understand the job profile of a LIC Assistant. The role of a LIC Assistant is to provide administrative support to the various departments within the Life Insurance Corporation of India (LIC). Some of the key responsibilities of an LIC Assistant include:

• LIC Assistants are responsible for performing various duties of Clerical Staff ranging from Cashier, Single Window operators, to Customer Service Executives, etc.
• Assistants manage cash counters, processing and sanctioning or disbursement of files assigned by the Assistant manager.
• They must also perform back-office work, Account-related work, and recovery as per the work assigned by the manager.
• They must also dispense with customer grievances.
• LIC assistants have to be responsible for processing and reviewing insurance documentation and ensuring that all documents are complete.
• They are required to Manage Sales documents & other documents related to policies, claims, settlements, accounts, etc.
• The LIC Assistants have to handle online/ offline transactions.

LIC Assistant Salary 2024: Career Growth

The insurance sector offers diverse career prospects, and being appointed as a LIC Assistant is a great opportunity. During the probationary period, which can be extended up to a year, new Assistants are expected to demonstrate their ability to perform their job responsibilities effectively. Once they complete their probationary period, they are appointed to their respective positions.

As an LIC Assistant, employees may be transferred to different departments per the organization’s internal requirements and their interests. Additionally, promotions are offered based on an employee’s years of experience and performance. LIC Assistants also have the option to take departmental exams and qualify for higher posts.

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