The candidates, who are planning to appear in the LIC AAO exam 2019, will be keen to know the salary and job profile of different posts. All the posts of AAO in LIC are good paymasters.
The candidates; who will pass the Prelims, Mains and Interview stages of the LIC AAO exam; get the final selection. The selected candidates need to undergo a probation period of one year which may be extended to another year as per the decision of the organisation. Also, the candidates need to sign a Guarantee Bond before joining.
Let’s discuss everything in detail.
Probation Period in LIC
A candidate appointed in the Officers’ cadre shall be on probation for a period of one year from the date of joining the duty. The probation period may be extended for another year.
Before joining as a Probationer, candidates will be required to give an undertaking to serve LIC for a minimum period of four years from the date of joining (including probationary period) failing which, he/she or his /her heirs, executors, administrators will be liable to pay liquidated damages of Rs.200, 000/-only (Rupees Two Lakh only) or the sum of amount the Executive Director (Personnel) may prescribe from time to time. The candidate will have to submit Deed of Indemnity at his/her cost, duly stamped, the stamp value of which will be as applicable to the State in which the deed is executed by the candidate.
Salary & Benefits
Basic pay of Rs. 32795/- per month in the scale of Rs. 32795- 1610(14) –55335– 1745(4) –62315 and other admissible allowances as per rules will be given to the AAOs in LIC. The total emoluments at the minimum of the scale, inclusive of House Rent Allowance & City Compensatory Allowance wherever admissible depending upon the classification of the city, will be approximately Rs 56,000/- per month in ‘A’ Class city.
There are other benefits associated with these posts which are as follows:
- Defined Contributory Pension
- Special Allowance for passing Actuarial Examination
- Cash Medical Benefits
- Group Mediclaim
- Group Personal Accident Insurance
- Group Insurance
- Vehicle Loan (2-wheeler/4 wheeler) as per rules
- Meal coupon
- Reimbursement towards cost of Brief case/leather bags
- Mobile handset and mobile expenses as per rules
- Supply of dailies and magazines and tea/coffee
- Company’s / leased accommodation
Candidates selected for the post of Assistant Administrative Officer (Chartered Accountant) with two years post qualification work experience on the date of eligibility are eligible for two advance increments.
The service conditions will be applicable as per the prevalent rules of the LIC from time to time. The advertised posts are regular and selected candidates, on appointment, are liable to be posted or subsequently transferred anywhere in India. It may be noted that most of the vacancies are in moffussil branches of LIC. As such, after selection and successful completion of training, candidates will be posted for a minimum period of three years in moffussil branches outside their home zones.
Job Profiles of the Assistant Administrative Officers in LIC
The LIC recruits the Assistant Administrative Officers. The candidates should know the job profiles of these Officers. Here, we are providing the details:
Job Profile of Generalists
Generalists are those Officers who are not from the technical fields like finance, legal etc. They are responsible for the settlement of the claims made by the customers. They are also responsible for the underwriting process and assessment of the risk. The Generalists also supervise the work done by their assistants. They are broadly responsible for the verification of the risk proposals and the authenticity of the claim made.
Job Profile of IT Officer
The IT Officers are to make sure that the functioning of the organisation remains smooth with strong tech support. IT Officers are required to take care of software and network systems, maintenance of databases, servers, evaluating new technology for improvement of the overall working etc.
The IT Officer is responsible for providing end-to-end support. He provides the solution bridge between the customer and the organisation for the smooth functioning.
Job Profile of CA
A Chartered Accountant gives financial advice; audits account books and provide genuine information about financial records. The job responsibility also involves financial reporting, taxation, forensic accounting, corporate financing, business recovery and insolvency etc. Working as a CA, the aim should be to maximise the profitability of the organisation.
Job Profile of Actuarial Officer
Actuaries analyse the financial costs of risk and uncertainty for an organisation. The Actuarial officer uses mathematics, statistics and financial theory to assess the risk and develop policies that minimize the cost of risk. Actuaries' work is important to the insurance industry. An Actuarial Officer has to design, test and administer insurance policies, investments, pension plans, and other business strategies.
Job Profile of Rajbhasha Officers
A Rajbhasha Officer is the official who is responsible for using the official language of the country i.e. Hindi as much as possible in the operations of the organisation like in circulars, notices etc. The officer should be well versed in Hindi and Sanskrit so that the use of the language is not neglected in the day to day operations. He is also responsible for the promotion of the official language.
Now, the candidates have got the idea of the salary and the job profiles of the AAO in LIC. All these posts are dignified and command respect in the society. The candidates need to work hard to get success in the exam.