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Life Insurance Corporation is an Indian state-owned insurance and investment corporation, it is the largest life insurance company in India. It is one of the largest insurance companies that recruit eligible candidates in a huge number for various posts every year offering opportunities to thousands of candidates for joining the Government Sector. With 8 Zonal Offices, 133 Divisional Offices, and 2048 Branch Offices the Life Insurance Corporation of India is the largest insurance provider in the country. To join this organization in the administrative cader, AAO recruitment is the best possible path. With a two-stages of exams followed by an interview, the AAO recruitment is very much similar to the IBPS PO recruitments.
The salary for LIC AAO has been one of the most important and noteworthy factors for pursuing a career with the Life Insurance Corporation Of India. The following article will solve the queries of the aspirants regarding the salary structure of the LIC AAO. The salary structure covered in this article includes pay scale, salary allowances, salary benefits, promotions, and increments. Candidates who are appearing for the examination can understand the LIC AAO Admit card 2022 in this article. Go on to read the complete article to understand LIC AAO salary 2022 and LIC AAO salary in hand details.
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LIC AAO Salary 2022
Since salary perks are one of the major attractions for the LIC AAO exam, let’s have a brief understanding of the LIC AAO salary. As LIC AAO is one of the most awaited banking examinations of the country, it offers a very colorful salary for the employees. Th details regarding the LIC AAO Salary details are given below.
LIC AAO 2022 Recruitment Details!
LIC AAO Salary Structure
The annual increment of a LIC AAO is INR 1610, for the next 14 years from the date of joining. The basic pay after increment is INR 55, 335. The figures for Annual Increment are INR 1745 for the next 4 years. Look at the details below.
|
Salary Structure |
|
| Basic Pay | INR 32,795/month |
| Annual Increment | INR 1610, for the next 14 years from the date of joining |
| Basic Pay after the Increment | INR 55,335/month |
| Annual Increment | INR 1745 for the next 4 years |
| Basic Pay after these increments | INR 62,315/month |
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LIC AAO Salary In Hand
LIC offers a certain salary for the candidates who are joining the post. The in-hand salary for the LIC AAO post is very convincing and the candidates who are preparing for the examination can refer to the LIC AAO Salary in hand details from the data given below. According to the latest reports obtained from the commission, the candidates who are joining for the post of LIC AAO will get an in-hand salary that will vary from 58000 Rs to 60000 Rs.
LIC AAO Salary Slip
A salary slip is the most important document that the employees will receive along with the salary. The salary slip will have the complete details and the breakdown of the salary that the employee will receive. This document can also be used by the employees as proof of the salary and also the employees.
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LIC AAO Post Wise Salary
The table given below gives the details regarding the salary that the candidates will be getting as AAO in the LIC.
|
Salary Structure |
|
| Basic Pay | INR 32,795/month |
| Annual Increment | INR 1610, for the next 14 years from the date of joining |
| Basic Pay after the Increment | INR 55,335/month |
| Annual Increment | INR 1745 for the next 4 years |
| Basic Pay after these increments | INR 62,315/month |
Expected Salary of LIC AAO Salary After Pay Revision
The LIC AAO pay scale is as under: Rs. 32795 – 1610 (14) – 55335 – 1745 (4) – 62315
This means the initial Basic Pay of LIC AAO is Rs 32,795 per month. This is the initial basic pay when a candidate joins as AAO. Thereafter, there will be an annual increment of Rs 1,610 for the next 14 years. At the end of 14 years from joining, the basic pay will be Rs. 55,335/. After that, an annual increment of Rs 1,745 is provided upon the existing basic pay for the next 4 years. At the end of 18 years of joining as AAO, the basic pay will be Rs 62,315/– per month.
Note that, the minimum salary considering the basic pay and HRA, CCA & other allowances will be approximately Rs 57,000/- per month in ‘A’ Class city. Besides that, there will also be other benefits as per the govt rules.
In addition to the Basic Pay, there are other allowances that are calculated as a percentage of the Basic Pay based on the location of posting and other parameters. The total LIC AAO salary is the sum of the Basic Pay and these allowances.
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LIC AAO Salary and Other Benefits
Apart from the basic pay, the salary structure will also include several allowances. Various allowances that are part of LIC AAO salary are given below:
- Dearness Allowances (DA)
- House Rent Allowances (HRA)
- City Compensatory Allowances (depends on the classification of your city) (CCA)
LIC AAO allowance details are as given below:
| House Rent Allowance (HRA) | The HRA depends upon the location of the job. Depending on whether the LIC AAOs are posted in metropolitan cities, big cities or other locations, the HRA can be 9%, 8% or 7% of the LIC AAO Basic Pay. |
| City Compensatory Allowance (CCA) | This also depends upon the location of your job and can be 4%, 3%, or 0% of the LIC AAO Basic Pay. |
| Dearness Allowance (DA) | The DA is revised quarterly based on the Consumer Price Index. This component of LIC AAO Salary forms around 40% of the Basic Pay. Since CPI depends upon inflation rates, the DA may increase or decrease based on that. |
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LIC AAO Salary Benefits
Apart from the LIC AAO salary, there are other benefits for the LIC AAO post which are as listed:
- Leave Travel Concession (LTC)
- Special Allowance
- Gratuity
- Group Mediclaim
- Group Insurance
- Defined Contributory Pension
- Cash Medical Benefit
- Accident Insurance
- Loan for Personal Vehicles
- Meal Coupon
- Mobile Expenses etc
LIC AAO Career Growth
At LIC, the promotion is not very dynamic. However, it is compulsory to serve at least 5 to 7 years to be eligible for the promotion. After having a satisfying experience for a certain period of time, the candidates can be promoted like Administrative Officer (AO)-Assistant Divisional Manager (ADM)-Divisional Manager- Senior Division Manager- Zonal Manager and so on. There are also chances of being promoted to other departments, based on the performance of the candidates. Some of the major branches are,
- Finance Accounts
- New Business
- Information Technology
- Policy Servicing
- Claims
- Marketing Sales
- Inspection
- Legal
- Actuarial
- Systems
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LIC AAO Exam Centres
LIC AAO examination is one of the most-awaited and participated examinations in the country. Participants from various parts of the country appear for the examination. LIC AAO examination is conducted at various exam centers and the details regarding the exam centers are given below. Candidates who are preparing for the examination is requested to go through the table given below to find the most convenient exam location.
| States/ UT | LIC AAO Exam Centres |
|---|---|
| Andaman and Nicobar | Port Blair |
| Andhra Pradesh | Guntur Kadapa
|
| Assam |
|
| Arunachal Pradesh | Naharlagun |
| Bihar |
|
| Chandigarh | Chandigarh-Mohali |
| Chattisgarh |
|
| Delhi |
|
| Goa | Panaji |
| Gujarat |
|
| Haryana |
|
| Uttarakhand |
|
| Himachal Pradesh |
|
| Jharkhand |
|
| Karnataka |
|
| Kerala |
|
| Rajasthan |
|
| Maharashtra |
|
| Madhya Pradesh |
|
| Manipur | Imphal |
| Meghalaya | Shillong |
| Mizoram | Aizawl |
| Nagaland | Kohima |
| Odisha |
|
| Punjab |
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| Tamil Nadu |
|
| Sikkim | Barding-Gangtok |
| Telangana |
|
| Uttar Pradesh |
|
| Tripura | Agartala |
Entri wishes you good luck with your LIC AAO examinations. Don’t delay your preparations, start your preparation today itself. Entri will help you with LIC AAO Course 2022. Candidates who wish to apply for the examination are requested to go through the complete syllabus and use the best materials for their preparation. Start your preparations for your dream government job with Entri App. We provide a wide range of courses over different government exams. Sign Up for Entri classes and ace the preparation for the government job examinations and bank examinations today itself. Entri helps you with thousands of questions. Attempt mock tests, analyze yourself and improve your success rate. We wish you all the success in your preparations. Attempt the latest mock test series available in the app. All other information regarding the LIC AAO exam notification 2022 will be updated on our page.
