LIC AAO Salary 2024, Revised Salary Structure

The LIC AAO Salary 2024 has been updated, offering an attractive revised basic pay of ₹88,635 for Assistant Administrative Officers (AAOs). This revision enhances the pay structure, making the role even more appealing for aspirants aiming to join the Life Insurance Corporation of India. Along with the basic pay, employees enjoy a host of perks, allowances, and benefits, reflecting the stability and growth opportunities in this prestigious role. The updated salary package, combined with the job’s responsibilities, positions it as one of the most sought-after opportunities in the insurance sector. In this article, we delve into the revised salary structure, allowances, and career growth prospects for LIC AAOs in 2024.

LIC AAO Salary 2024

The Life Insurance Corporation of India provides attractive salaries 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 Structure

Securing a LIC Assistant Administrative Officer post is bound to instil a sense of fulfilment 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 is given below:

LIC AAO Salary 2024: Deductions

The In-Hand Salary that an Assistant Administrative Officer in LIC receives is after the deductions made in the gross salary. There are certain deductions in the LIC AAO Salary which include 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 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:

The other benefits that an Assistant Administrative Officer receive have been listed down below.

• 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:

• The LIC Assistant Administrative Officer has to formulate new schemes and check the already existing and new policies.
• The 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 does 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, if candidates do not fulfil the undertaking then they have to pay the liquidated damages of Rs.5,00,000/+ GST or the sum of the 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