LIC Assistant Salary 2023 In-Hand Salary, Pay Scale & Job Profile


LIC Assistant Salary 2023

LIC Assistant Salary is one of the best in the insurance sector. Life Insurance Cooperation 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 LIC Salary structure, the salary of LIC Assitant is now Rs.27,840-840(1)-28,680-915(2)-30,510-1030(5)-35,760-1195(2)-38150-1455(3)-42,515-1510(2)-45,535-1610(5)-53,585. Which is very lucrative and attractive by all standards. This article here all the information on LIC Assistant Salary 2023 and job profile.

LIC Assistant Salary

The LIC Assistant Salary 2023 details will be mentioned in the official notification. The salary structure in LIC is subject to time-to-time revisions as per which is recent years the LIC Assistant Salary has been revised. Along with that, the candidates are also eligible for a good number of allowances that LIC Assitant Salary to approx Rs 38416. The space below has the complete details on LIC Assistant Salary 2023.

LIC Assistant Salary 2023: Overview

Here is a brief overview of LIC Assistant Salary 2023. You can get all the information on salary and LIC Assistant Exam here.

LIC Assistant Salary 2023: Overview
OrganizationLife Insurance Corporation of India
Exam NameLIC Assistant Exam 2023
CategoryGovernment Jobs
Selection ProcessPrelims, Mains, Interview
Job LocationAll across India
Application ModeOnline

LIC Assistant Syllabus & Exam Pattern 2023

LIC Assistant Salary 2023: Salary Structure

The LIC Assistant Salary after the latest 11th Bipartite Settlement is Rs. 27,840 per month.  The overall salary structure for an Assistant in LIC is very attractive. The latest salary structure for LIC Assitant is Rs.27,840-840(1)-28,680-915(2)-30,510-1030(5)-35,760-1195(2)-38150-1455(3)-42,515-1510(2)-45,535-1610(5)-53,585. Here is the detailed LIC Assistant Salary Structure.

Basic PayRs. 27,840
DARs. 10,553.14
DA (Arrears)Rs. 176.27
HRARs. 1987.65
Transport AllowanceRs. 680
Temp Cash AllowanceRs. 800
Cadre Spl. AllowanceRs. 2000
Tech Exam AllowanceRs. 555
Tech Exam Allowance (Arrears)Rs. 555
Gross SalaryRs. 45,147.06
DeductionRs. 6731.06
Net SalaryRs. 38416.00

LIC Assistant Salary 2023: Deductions

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

LIC Assistant Salary 2023: Deductions 
Name of the DeductionsAmount
NPS-DCP OpteesRs. 3825
MediclaimRs. 158.92
New GI SchemeRs. 97
GTIS’ 97 Rish PrRs. 196
Opynl MediclaimRs. 613.92
GID PremiumRs. 1840
SR A/C CreditRs. 0.22
Total DeductionsRs. 6731.06

LIC Assistant Salary 2023: Increments

An employee designated at the post of LIC Assistant receives increments at a regular time period. The limit of increments is the maximum amount of basic pay i.e Rs. 53,585 and it continues till the employee attains retirement. The increments in the LIC Assistant Salary 2023 are mentioned below.

LIC Assistant Salary 2023: Increments 
Basic PayIncrement AmountYears
Rs. 27,840Rs 8401 year
Rs 28,680Rs 9152 years
Rs 30,510Rs 10305 years
Rs 35,760Rs 11952 years
Rs 38150Rs 14553 years
Rs 42,515Rs 15102 years
Rs 45,535Rs 16105 years
Rs 53,585Till Retirement

LIC Assistant Salary 2023: Perks and Allowances

The LIC Assistant Salary 2023 is not just limited to the pay scale. Various other perks and allowances are provided to the employee. Here are 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 2022: Job Profile

To prepare for the LIC Assistant Exam, it is essential for candidates 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 a LIC Assistant include:

  • LIC Assistants are responsible to perform 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 2023: 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 successfully complete their probationary period, they are appointed to their respective positions.

As an LIC Assistant, employees may be transferred to different departments as per the internal requirements of the organization and their own 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.

LIC Assistant Salary 2023:FAQs

What is the starting basic pay as per the LIC Assistant Salary 2023?

The starting basic pay of a LIC Assistant is Rs. 27,840 per month.

What benefits are given to LIC assistants apart from the salary?

Apart from the decent salary, a LIC Assistant is liable to get HRA, Medical allowance, Travel allowance, dearness allowance, pension benefits, provident fund, and various other perks.

What is the in-hand salary of a LIC Assistant?

The in-hand salary of LIC Assistant is Rs. 38416 per month.

LIC Assistant Salary 2023 In-Hand Salary, Pay Scale & Job Profile


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