LIC AAO : Job Profile
First of all Congratulations for all the candidates selected as Assistant Administrative Officer (AAO) in LIC. Since, Aspirants always wonder if these Insurance jobs are as good as jobs in the Banking Sector. We received many queries regarding the LIC AAO Job Profile, Duties of an AAO at LIC, Salary Structure and Growth prospects of this position.So here in this post, we will be discussing the Job Profile, Salary and Promotion of LIC AAO
A LIC AAO is responsible for doing the following tasks:
- Formulating new schemes, inspecting policies
- Managing and filing Claims and Settlements
- Coordinating with other departments, provide assistance
- Perform any work specified by department head or administrative Officer.
- Interact with Clients and provide them assistance.
- Inspecting existing policies for errors or misleading fact.
Salary Structure:
- Pay scale of an LIC AAO is 17240-840(14)-29000-910(4)-32640 (Under Revision)
- Total emoluments including House Rent Allowance & City Compensatory Allowance in a metropolitan city will be approximately INR 40,245 per month.
- Medical Benefit, Group Mediclaim, Group Personal Accident Insurance, Group Insurance, Vehicle Loan (2 wheeler/4 wheeler) are available as per rules.
- Other benefits include Defined Contributory Pension, Special Allowance for passing Actuarial Examination, Gratuity, LTC, Cash.
Job Location:
Training and postings will most likely require you to relocate. LIC AAO is a transferable job as LIC has numerous branches all over India. However, LIC has most of its branches in cities and towns only. So, you will most likely be placed in a developed/developing area. This is its biggest advantage over Banking Sector jobs, where you may have to shift to a rural area.
Probation:
A newly recruited AAO will be on probation for one year which is extendable up to 2 years. In addition to this, 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).
In case a candidate fails to serve the minimum serving period, then he/she will be liable to pay damages of Rs.200, 000/-only (Rupees Two Lakhs only).
Promotion:
LIC is one of the biggest players among the Public Sector Insurance Companies. Being an old company, retirements happen every year at the senior level. Hence, new recruits have a better than fair chance to move up.
However the promotion policy is not very proactive and the minimum time required for being promoted varies from 5-8 years.
Thus there are 2 paths for career advancements:
1. After gaining certain years of experience, AAOs can get promoted as Administrative Officer (AO)–Assistant Divisional Manager (ADM) — Divisional Manager — Senior Divisional Manager — Zonal Manager and so on.
2. There are also chances to move to other departments through internal posting based on your performance / Inclination. There you can become Assistant Branch Manager (ABM) and then Branch Manager (BM).
The various Departments are as follows:
- Finance/Accounts
- New Business
- Information Technology
- Policy Servicing
- Claims
- Marketing / Sales
- Actuarial
- Inspection
- Legal
- Systems
Some of these departments work at Zonal, Divisional & Central Office Levels Only.
AAO`s may not engage in travelling but at times, they might have to visit certain areas for follow up & not specifically for sales. Hence they could be posted in specific departments within the organization & the responsibilities for each will vary.
We hope this helps you determine if the LIC AAO Job Profile is what you are looking for.
