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LIC Assistant Salary 2023, In hand Salary, Perks, Job Profile

LIC Assistant Salary 2023

The LIC Assistant salary 2023 is available on the official website of the Life Insurance Corporation of India (LIC). Candidates who are preparing themself for LIC Assistant posts need the information they need to know about the LIC Assistant Salary 2023 including their pay scale, structure, promotion, increments, and allowances. Candidates can read the complete article about the LIC Assistant Salary 2023.

LIC Assistant 2023

LIC is a government-run enterprise in the public sector in India. The position has several benefits, such as stable employment and future, a competitive salary and benefits package, and excellent advancement opportunities. However, the employee will have numerous opportunities to demonstrate the job skills that can earn them a promotion and help them advance to a senior position following the appointment, depending on their experience or daily routines.

LIC Assistant Salary 2023- Overview

The revised basic pay of a LIC Assistant is Rs. 27,840 per month and with other admissible allowances and deductions, the In-hand salary of a LIC Assistant is around Rs. 38000/- to Rs. 40000/- per month. Check the details about the LIC Assistant Salary 2023 here. 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 2023
Conducting Body Life Insurance Corporation Limited
Post LIC Assistant
No of Vacancy to be notified
Category Salary
Basic Pay Rs. 27,840 per month
Jobs Bank Jobs
Exam Level National
Selection Process Prelims, Mains
Official Site

LIC Assistant Salary Structure 2023

The LIC Assistant Salary Structure has been described below. The basic pay and maximum in-hand salary are given. Basic pay of Rs. 27,840 per month on the scale of 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 and other admissible allowances as per rules. That is the maximum salary of a LIC Assistant earned without promotion is Rs. 40080

LIC Assistant Salary Structure 2023
Basic Pay Rs. 27,840
DA Rs. 10,553.14
DA (Arrears) Rs. 176.27
HRA Rs. 1987.65
Transport Allowance Rs. 680
Temp Cash Allowance Rs. 800
Cadre Spl. Allowance Rs. 2000
Tech Exam Allowance Rs. 555
Tech Exam Allowance (Arrears) Rs. 555
Gross Salary Rs. 45,147.06
Deduction Rs. 6731.06
Net Salary Rs. 38416.00

LIC Assistant Salary 2023- Perks & Allowance

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 following Perks and Allowances are included in the salary slip of a LIC Assistant.

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

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 28,000/- to Rs. 30,000 per month.

LIC Assistant Salary 2023: Deductions

The following are some deductions from the LIC Assistant Salary in more detail. Candidates can check the below the table:

LIC Assistant Salary 2023: Deductions 
Name of the Deductions Amount
NPS-DCP Optees Rs. 3825
Mediclaim Rs. 158.92
New GI Scheme Rs. 97
GTIS’ 97 Rish Pr Rs. 196
Opynl Mediclaim Rs. 613.92
GID Premium Rs. 1840
SR A/C Credit Rs. 0.22
Total Deductions Rs. 6731.06

What after Selection as LIC Assistant?

After selection as an 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 be 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’s 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.

  • Corporation Choice of Divisional Office for an appointment: The candidates will be competing with those candidates who have applied for empanelment for an 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 their Division as an examination center. Examination centers other than places specified for that Division shall not be allowed. However, the Corporation has the right to allot any examination center to a candidate.

LIC Assistant Job Profile

The work profile or job profile of LIC Assistant involves the following:

  1. Clerical duties
  2. Public relations/ mitigation
  3. Document handling
  4. Customer service executive
  5. Back-end office work
  6. 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 work, 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 to policies, claims, settlements, accounts, etc.
  • Assistants handle online and offline transactions.

LIC Assistant Promotion and Career Growth

Overall, the LIC Assistant’s salary and perks offered by the LIC Assistant Job profile are very attractive and give 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!

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What is the In-Hand Salary of a LIC Assistant?

The In-Hand Salary of a LIC Assistant is between Rs. 28000/- to Rs. 30000/- per month based on the location of posting.

What is the basic pay of a LIC Assistant?

The basic pay of a LIC Assistant is Rs.14,435/- per month.