There is not much awareness about jobs in insurance companies compared to the buzz around upcoming bank jobs.With many public sector insurance organizations coming up with recruitments, candidates are very eager to know about the LIC AAO Salary & Job Profile.So we are publishing this article that will talk about the duties, salary & future growth aspects of this position.
I hope you know that similar to government owned banks there are public sector insurance companies as well.The most popular PSU`s in this sector are LIC, NIC, GIC, UIIC, NIC, OILC etc.
AAO Job Profile:
What is the role of an Assistant Administrative Officer? is one question constantly asked by aspirants.
As the name suggests, AAO job involves more of administrative work that
- may include devising new schemes, inspecting policies,
- managing & filing claims, client interactions,
- co-coordinating with other depts. about a scheme/ policy, provide assistance etc.
- perform any other works as & when specified by dept head/ administrative officer
The LIC AAO job profile does not involve travelling extensively but at times, they may have to visit certain areas for follow up & not specifically for sales.
Which department posting? There are many departments within LIC such as
- Finance/Accounts,
- New Business
- Information Technology (IT)
- Policy Servicing
- Claims
- Marketing/ Sales
- Actuarial
- Inspection
Some of these departments work only at Zonal, Divisional & Central Office levels only.
So if you are appointed as AAO – posting could be in specific departments as given above OR as a general officer.
Apprentice Development Officer (ADO) is another important post in LIC.Their main work is to recruit agents, give them required training for policy sales & enable them to provide service for existing customers.
The job profile of AAO & ADO are completely different.
LIC AAO Salary:
According to the recent LIC AAO recruitment notice, the monthly salary is approx Rs.40,245 per month (including allowances) at metropolitan cities.This amount will differ slightly in other cities.
While the above pay is inclusive of allowances, your take home/ in-hand salary could be around Rs.33,000/ month.
AAO`s are also entitled for PF, pension, LTC, 2/4 wheeler loans, mediclaim, medical benefits & much more.
Salary to Increase:The payscale for AAO`s is Rs.17240 – 32640, which is pending revision.Once its approved by the government, you can expect an increase in salary for LIC AAO employees further.
MUST READ: See LIC AAO vs Bank PO comparison for even more details look at the similarities & differences between Bank PO & LIC AAO
Future Prospects & Promotions:
Among the public sector insurance companies, LIC is the majority player with crores of policy holders as its customers.Therefore, it requires large number of employees to reach out to its current user base & also bring new business.
As senior level retirements are happening every year, new recruits have a very good chance to move up the ladder through promotions.
The LIC AAO promotion & growth path is explaine din the chart below:
After gaining certain level of experience, AAOs are promoted as Administrative Officer.There are also chances to move to other departments as Assistant Branch Manager (ABM) through internal posting.
Since future growth depends on promotion policies adopted by LIC & various parameters set by them, exact duration cannot be commented by us. But industry experts say that the AAO promotion could happen between 5 – 8 years.
