Life Insurance Company is the most renowned state-owned insurance company in India.
LIC each year conducts examinations to recruit candidates for the post of assistant.
Interested candidates should know various details of the examination and post.
Candidates should have beforehand knowledge on LIC Assistant salary, career prospects, and job profile.
LIC is a prestigious organization known for its standard of work, the vastness of customer base, and ethical culture within the organization.
An opportunity to work with LIC is no less than a lavish government job.
The job profile comes with a lot of perks including a secured job & future, a good salary & allowances, and great promotions.
LIC Assistant is an entry-level position.
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However, after the appointment, with experience of working or their daily schedules, the employee will get huge opportunities to prove the work qualities that can provide a promotion to them and can also help them to reach the senior post.You can prepare for LIC Exam with the help of our FREE Current Affairs Ebook- Download Now
- The salary structure in LIC is as per the 7th pay commission.
- LIC Assistant's in-hand salary is computed to be INR 28,000 to INR 32,000 per month.
- The basic pay of a LIC Assistant (Clerk) is Rs. 14435/- per month
- LIC Assistant Notification 2022 for recruitment of 8500 assistant vacancies is out soon on LIC Careers website licindia.in.
- LIC AAO 2021 main exam result will be announced soon. Life Insurance Corporation (LIC) conducted the main exam on October 31.
LIC Assistant Salary 2022
LIC Assistant In-hand Salary
LIC Assistant Salary Structure
The basic pay of a LIC Assistant (Clerk) is Rs. 14435/- per month on the scale of Rs.
14435-840(1)-15275-915(2)-17105-1030(5)-22255-1195 (2)-24645-1455(3)-29010-1510(2)-32030-1610(5)-40080 and other admissible allowances as per rules.
The gross annual package will be around INR 3 to 3.4 Lakhs per annum.
LIC Assistant Allowances and Benefits
As per the mandate of 7 th pay commission, government employees are paid various allowances.
Allowances are add on to the basic salary, they are meant to cover rising living standards, hedge against inflation and provide remuneration for official work.
Allowances to an extent ensure hassle free work conditions for employees.
The allowances as a part of LIC Assistant salary are covered below:
- House Rent Allowances (HRA): It depends on the job location of the employee.
Based on location, if LIC Assistants are posted in metropolitan cities, big cities, or other places, the HRA can be 9%, 8%, or 7% of the LIC Assistant basic pay.
- City Compensatory Allowance (CCA): This depends on the job location and can be 4%, 3%, or 0% of the basic pay of LIC Assistant.
- Dearness Allowance (DA): This is revised quarterly based on the Consumer Price Index (CPI).
It forms 40% of the basic pay.
CPI depends on the inflation rate, due to which it shows frequent fluctuation.
Hence, DA fluctuates frequently.
- Lunch Allowance
- Insurance Allowance: Group Personal Accident Insurance, Vehicle Loan (2-wheeler), etc.
as per LIC rules
LIC Assistant Probation Period
Candidates must note that LIC Assistants have a probation period of 1 year from the date of joining.
Probation period is the time period for learning and assessment for work.
Probation period can be extended to 2 years as per government rules.
After completion of probation period candidates are eligible for all the benefits.
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LIC Assistant Job profile and Career Growth
It is also important for candidates aspiring for appear for LIC Assistant Exam to know about the job profile of LIC Assistant.
The responsibilities of LIC Assistant include the following:
- Work as Cashier, Single Window Operator, Customer Service Executive, and other clerical services.
- Manage cash counters at LIC offices.
- Perform back-office work, account-related work, and recovery according to the work assigned to them by the manager.
- Customer grievance and management of issues
LIC conducts internal promotional exams at regular intervals.
Candidates who pass these exams are promoted to higher positions.
As positions increase, candidates' salary also increases with promotions. The LIC Assistant can get promoted based on performance and internal review.
Candidates with promising work and learning get promoted early.
A LIC Assistant makes at least INR 28,000 to INR 32,000 per month,
The basic salary of a LIC Assistant is Rs. 14435/- per month.
The minimum pay scale for a LIC Assistant is a pay scale of Rs. 14435-840(1)-15275-915(2)-17105-1030(5)-22255-1195 (2)-24645-1455(3)-29010-1510(2)-32030-1610(5)-40080.
No salary is only received once the candidate joins the department as a LIC Assistant.
Yes, they are promoted based on internal review, seniority and work performance.