LIC AAO 2024 Salary Structure, Allowances, Job Profile, Promotion, and Career Growth

The position of Assistant Administrative Officer (AAO) at LIC (Life Insurance Corporation of India Limited) is highly sought after by individuals aspiring to build a successful career in the insurance sector. As the largest insurance company in India, securing an entry-level AAO position is a coveted dream for many students. Prospective candidates are advised to review previous years’ LIC AAO papers as part of their exam preparation. Expected that LIC AAO 2024 Salary would be same for further details till update.

The base salary for LIC AAO officers stands at approximately INR 53,600 per month, supplemented by additional benefits such as House Rent Allowance (HRA) and Dearness Allowance (DA) alongside the basic pay. After 14 years of service, officers receive a monthly salary of INR 90,630. The article delves into the salary structure, allowances, increments, and deductions for LIC AAO recruits.

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The salary structure includes a basic monthly salary of INR 53,600, a Special Allowance of INR 4,500, DA of 29.36%, HRA (7% for Z Class City) of INR 3,752, and a Transport Allowance of INR 1,960, resulting in a gross salary of INR 80,870. Deductions, including DCPS, Mediclaim, GTIS, New GI, and GIS, amount to INR 10,561, leading to a net salary of INR 70,309.

The article further details the salary progression over the years, with an annual increment of INR 2,645 for the first 14 years, followed by an increment of INR 2,865 for the subsequent 4 years. After 18 years of service, the basic pay reaches INR 1,02,090 per month. Various allowances, such as Dearness Allowance (DA), House Rent Allowance (HRA), and City Compensatory Allowance, are also explained.

Salary Structure
Basic Pay	INR 53,600/- per month
Annual Increment	INR 2645 for the next 14 years from the date of joining
Basic Pay after Increment	INR 90,630/- per month
Annual Increment	INR 2865 for the next 4 years
Basic Pay after these increments	INR 1,02,090/- per month

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In addition to the salary and allowances, LIC AAOs enjoy various perks and benefits, including Special Allowance, Group Insurance, Leave Travel Concession, Medical Facility, Accidental Insurance, Loan facility for a personal vehicle, Meal Coupon, and coverage for daily expenses.

Allowances and Benefits Overview
House Rent Allowances (HRA)	Usually given to workers as a way of covering living expenses, particularly in large cities. Depending on the posting area, yes. The HRA will be 7, 8%, or 9% of base pay in large cities.
City Compensatory Allowances	The City of Posting determines the CCA as well; it may be 4%, 3%, or even 0% of the base LIC AAO pay scale.
Dearness Allowance (DRA)	Every quarter, the DRA is updated in accordance with the Consumer Price Index. Usually, changes in inflation have an impact on this. The DRA amounts represent approximately 40% of the base LIC AAO Pay.

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The article concludes with information on joining details, job profile responsibilities, and the promotion and career growth prospects for LIC AAOs. Promotions are based on seniority or departmental exams, with potential positions including Administrative Officer (AO), Assistant Divisional Manager (ADM), Divisional Manager (DM), Senior Divisional Manager (SDM), Zonal Manager, and more. Successful candidates are required to serve a probationary period of two years before becoming permanent employees, and failure to meet conditions may result in a financial penalty.

1: After having a decent experience for a certain period of time, the candidates can be promoted to Administrative Officer (AO)-Assistant Divisional Manager (ADM)-Divisional Manager- Senior Division Manager- Zonal Manager and so on. 

2: There are also scopes of being promoted to other departments, based on the performance and efficiency of the candidates. Some of the major branches are: 

• Finance Accounts
• New Business
• Information Technology
• Policy Servicing
• Claims
• Marketing Sales
• Inspection
• Legal
• Actuarial
• Systems