Life Insurance Corporation of India, LIC is an Indian government-owned insurance and investment corporation. Every year through an all India based screening test, the corporation hires hundreds of graduates across the various stream to their service. Among the screening process, the interview is the last stage of selection, and LIC usually invites 10 times more candidates than the required to the interview stage. The personal interview plays a very important role in the final selection of LIC AAO as it carries 60 marks. The final selection list is prepared based on the sum of the marks obtained in the mains exam (maximum 100 marks) and the interview (maximum 60 marks). Let’s discuss some of the questions asked in the LIC AAO interview 2021.
LIC AAO Interview Questions 2021
Life Insurance Corporation conducts this recruitment to select candidates across 05 streams, namely:
- Assistant Administrative Officer: Legal
- Assistant Administrative Officer: Rajbhasha
- Chartered Accountant
- Assistant Administrative Officer: Actuarial, and
- Assistant Administrative Officer: Information Technology (IT)
With a basic pay of Rs. 32795/- per month on a scale of Rs. 32795- 1610(14) –55335– 1745(4) –62315 and other allowances, LIC AAO is one of the favourites among the Insurance and banking job aspirants. Between a graduate below 30 years, and LIC AAO post the distance is only two tests and an interview. With the two stages of an online test similar to that of IBPS, with dedicated study and hard work one can easily crack without sweating much.
Personal interview being the last stage of the screening process, it is a test of the candidate’s personality and knowledge. With a weightage of 60 marks, candidates score in the interview along with their Mains exam score is used to prepare the final shortlist. Since it can help one to climb the ranking ladder, it’s necessary to prepare for the LIC AAO interview questions. Here we are trying to collect some of the previously asked LIC AAO important interview questions.
Like any other interview, the LIC AAO interview do start with personal questions like,
- Introduce yourself.
- Why do you want LIC?
- How can your skills be useful to LIC?
- What Do You Know About Life Insurance?
- What are your strengths and weaknesses?
- Tell about educational background, etc
The interviewer may ask questions based on your educational background, previous job profiles, etc
Some of the job profile oriented LIC AAO Interview questions are:
- Explain different types of insurance policies
- What type of insurance policies are there?
- What Are the Difference Between Marketing And Sales?
- Are LIC policies used by people to save tax?
- What is an insurer?
- What Is the Difference Between With Profit And Without Profit Plans?
- Who is a policyholder?
- What Is Keyman Insurance?
- What is the FDI Limit For Insurance Sector?
- How Many Types Of Insurance Companies are there in India?
- What is indemnity?
- What is the contract?
- Define Insurance Coverage in layman’s terms?
- What are the different types of Insurance coverage?
- What is a premium?
- Explain the difference between “revocable beneficiary” and “irrevocable beneficiary”?
- What is a no-claim bonus?
- What is the ‘declaration page’ in the insurance policy?
- Explain the term “Annuity”?
- What is the Surrender Value?
- What is Paid Value?
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