Life Insurance Corporation of India is the organization that holds very much repute. Candidates who are preparing for the exam are also entitled to know the LIC Assistant Salary including their pay scale, structure, promotion, increments and allowances.
LIC is a public sector undertaking Government of India. An opportunity to work with LIC is no less than a lavish government job. The job profile comes with a lot of perks including secured job & future, good salary & allowances and great promotions. LIC Assistant is an entry-level position. However, after appointment, with experience of working or their daily schedules, the employee will get huge opportunities to prove the work qualities that can provide a promotion to them and can also help them to reach the senior post.
In this article, details of the LIC Assistant Salary, Inhand Salary, Structure and increments have been provided along with allowances and benefits. Read further to find out.
LIC Assistant Salary Structure- In-Hand + Allowances
LIC Assistant Salary Structure has been described below. The basic pay and maximum in-hand salary are given. Basic pay of Rs. 14435/- per month in the scale of Rs. 14435-840(1)-15275-915(2)-17105-1030(5)-22255-1195(2)-24645-1455(3)-29010-1510(2)-32030-1610(5)-40080 and other admissible allowances as per rules.
- Initial Basic Pay – Rs 14435 with a yearly increment of Rs 840 for 1 year
- Rs 15275 and yearly increment of Rs 915 for the next two years
- Rs 17105 and yearly increment of Rs 1030 for the next five years
- Rs 22255 and yearly increment of Rs 1195 for the next 2 years
- Rs 24645 and yearly increment of Rs 1455 for the next three years
- Rs 29010 and yearly increment of Rs 1510 for the next two years
- Rs 32030 and yearly increment of Rs 1610 for the next five years
- Rs 40080(maximum Basic Pay)
That is the maximum salary of LIC Assistant earned without promotion is Rs. 40080
LIC Assistant Allowances in Salary Slip
LIC Assistant’s salary slip includes a number of allowances, basic pay and gratuity. The salary is a huge motivation for candidates to score well and clear the exam. The Type of Allowances of LIC Assistant Salary will include:
- Graduation Increment
- House Rent Allowance & City Compensatory Allowance
- Defined Contributory Pension
- Cash Medical Benefit
- Group Medi-claim
- Group Personal Accident Insurance
- Group Insurance
- Vehicle Loan (2-wheeler) as per rules
Refer the given image for LIC Assistant Salary Slip:
The allowances depend upon the classification of the city and meal coupon, which will be approximately Rs 30,000/- per month in ‘A’ Class city. That is LIC Assistant In-hand Salary will be Rs 30,000/- per month.
What after Selection as LIC Assistant?
After selection as a LIC Assistant and successful completion of training, candidates will be posted for a minimum period of three years at assigned places and no request for any change/transfer will be entertained. Selected candidates will be governed by LIC of India (Staff) Regulations, 1960 and will be required to responsible for the work of Assistant, Cashier, Single Window Operator, Customer Service Executive, etc. as and when required by the Office.
There is a policy of Probation period for a candidate appointment as a LIC Assistant. The candidate will serve probation for a period of six months from the date of appointment which can be extended up to one year.
- Confirmed LIC employees on appointment as Assistant shall be eligible for fixation of pay as per existing rules of the
- Corporation Choice of Divisional Office for an appointment: The candidates will be competing with those candidates who have applied for empanelment for appointment in the Division chosen. No candidate will be considered for the post in the Division other than the one chosen by him/her for an appointment. Hence, candidates should carefully select the Divisional office for an application. No change in the Divisional Office will be permissible at a later date. Candidates should submit the application only for ONE division. Candidates should choose a place specified for his Division as an examination centre. Examination centre other than places specified for that Division shall not be allowed. However, Corporation has the right to allot any examination centre to a candidate.
LIC Assistant Job Profile
The work profile or job profile of LIC Assistant involves the following:
- Clerical duties
- Public relation/ mitigation
- Document handling
- Customer service executive
- Back-end office work
- Handling transactions
LIC Assistant Job Profile: Roles and Responsibilities
- The main role of Assistants is managing cash counters, processing and sanctioning or disbursement of files.
- Clerical Staff duties involve Cashier, Single Window Operator, Customer Service Executive, etc.
- LIC Assistants take care of back-office works, Account related work and recovery.
- LIC Assistants deal with customer grievances.
- They are responsible for processing and reviewing insurance documentation and ensuring that all documents are complete.
- They are also required to Manage Sales documents & other documents related policies, claims, settlements, accounts, etc.
- Assistants handle online and offline transactions.
LIC Assistant Promotion and Career
Overall, the LIC Assistant’s salary and perks offered by the LIC Assistant Job profile is very attractive and gives a good career growth. With a government job for a secured career, LIC Assistant Salary also comes with a number of allowances and perks. Numerous candidates will be applying for the given post. The LIC Assistant Salary, Job Profile and Promotions would help attract and motivate the candidates appearing for the exam to give the best they can so as to achieve greater growth. With a little hard work and focus, one can really go places and make sure they get what they want. All the very best to all the candidates appearing for the exam!
Candidates applying for the post are advised to stay updated with the website, sarkarijobs247.com for recent notifications related to LIC and other insurance-related government jobs.