LIC ADO Salary 2020: LIC (Life Insurance Corporation) is the largest insurance company in the country. Many candidates aspire to work in the life insurance organization.
Every year, LIC releases the notification for the recruitment of candidates mainly through two exams:
1. LIC ADO (Apprentice Development Officer)
2. LIC AAO (Assistant Administrative Officer)
This year the recruitment of candidates as an apprentice development officer is still awaited. We can expect to see the notification of the LIC ADO 2020 soon.
In this article, we will look at the aspects of LIC ADO salary along with the job profile, responsibilities, and allowances.
LIC ADO Introduction
|2.||Conducting Organization||Life Insurance Corporation of India (LIC)|
|3.||Name of the Post||Apprentice Development Officers (ADO)|
|4.||Vacancies||To be updated soon|
|5.||Mode of Application||Online|
|6.||Examination Mode||Online- Computer Based Test|
|7.||Stages of the Exam||Three stages (Prelims, Mains and Interview)|
The candidates selected as apprentice development officer are recruited in one of the following categories:
- Open Market
LIC ADO Vacancies 2020
For this year the notification of LIC ADO is going to be released soon. The expected number of vacancies for LIC ADO 2020 is 8581. We have listed the zone-wise vacancies on the basis of last year’s trends.
The vacancies for the life insurance company are divided into eight zonal offices:
LIC ADO Salary 2020
As per the LIC’s rules, the LIC ADO salary is given in the following two stages:
- Apprentice stage: For the first two months a candidate selected as LIC ADO receives a stipend of ₹34,503/- per month. These two months are considered as the training period. During this period the candidate will be trained for technical and field sales.
- Probation Stage: The probation period will start after the successful completion of the apprentice period. This period usually lasts for a year but can be extended up to two years.
According to the 7th pay commission, initially, the LIC ADO salary will have a basic pay of ₹21,865/- per month. The LIC ADO in-hand salary is approximately ₹30,000. The in-hand LIC ADO salary varies from 30000 to 35000 depending on the allowances. The amount given in the allowances depends on the city. The LIC ADO pay scale is 21865-1340(2)-24545-1580(2)-27705-1610(17)-55075.
The table below shows the division of a LIC ADO Salary 2020:
|S.No.||CATEGORY||Amount (in ₹)|
|2.||Dearness Allowance (DA)||40% of the basic pay|
|3.||House Rent Allowance (HRA)||7-9% of basic pay|
|4.||City Compensatory Allowance (CCA)||0-4% of basic pay|
|5.||Salary after increments||55,075|
The above mentioned basic LIC ADO salary is not applicable for the candidates falling under the employee category.
LIC ADO Salary 2020: Increments
The Life Insurance Company not only provides the best salary in the industry but candidates also receive increments and incentives.
After joining the firm an annual increment of ₹1340/- will be provided for the next two years. Therefore, upgrading the basic pay to ₹24,545/-. For the next two years, the yearly increment amount will be ₹1580/-. The basic pay will be ₹27,705/-. For the next 17 years, the annual increment will be of ₹1610/-. And after successive increments, the officer will receive a basic pay of ₹55,075/-.
|S.No.||Years for Increment||Increment (in ₹)||Basic Pay (in ₹)|
|1.||1st Two years||1340||24,545|
|2.||Next Two years||1580||27,705|
|3.||Next Seventeen years||1610||55,075|
LIC ADO Allowances
Apart from the incentives added from time to time to the basic LIC ADO salary given above. There are many allowances given to the candidates to help them excel in their work. Given below is a list of allowances provided to an ADO along with the LIC ADO salary:
- Dearness Allowance (DA): 40% of the basic pay
- House Rent Allowance (HRA): 7-9% of basic pay
- City Compensatory Allowance (CCA): 0-4% of basic pay
- Contributory Pension Scheme
- Leave Travel Concession (LTC)
- Group Personal Accident Insurance
- Vehicle advance (2-wheeler/4-wheeler)
- Reimbursement towards the cost of Brief Case/leather bag
- Performance-based Incentives
- Mobile handset
- Medical Benefit
- Mobile Handset
LIC ADO Salary 2020: Career Growth
One of the most important reasons that attract so many candidates to prepare for the LIC ADO examination is career growth.
The first promotion for an individual selected as an apprentice development officer is a probationary development officer. After serving the organization as the probationary development officer the second promotion would be to the development officer. The next step would be the assistant branch manager. From the assistant branch manager, the individual is promoted to the branch manager.
A candidate should note that an apprentice development officer can get promoted to branch manager in a time span of 15 years. The highest level of the hierarchy is the regional manager level. This level is reached through Senior Branch Manager, Assistant Divisional Manager, Divisional Manager, and Senior Divisional Manager.
The hierarchy of the positions starting from apprentice development officer to regional manager is given below:
Apprentice Development Officer
Probationary Development Officer
Assistant Branch Manager
Senior Branch Manager
Assistant Divisional Manager
Senior Divisional Manager
Job Profile of LIC ADO
The LIC selects the candidate as an officer to maximize the sales of their products example policies and schemes. It is a sales-oriented job focusing on supervision. The officer is responsible for appointing and managing the life insurance agents.
The candidate selected as an Apprentice Development Officer in LIC is expected to fulfill the following responsibilities.
LIC ADO Responsibilities:
- Appointing agents for Selling and marketing of LIC policies
- Training the selected agents to increase the sales
- Supervise the agents’ work
- Ensure maximum sales by the agents
- Setting targets for agents
- Maintaining the work of the team
FAQs (Frequently Asked Questions)
Q: What is the LIC ADO monthly in-hand salary?
A: The monthly in-hand LIC ADO salary varies from 30000 to 35000 depending on the allowances.
Q: What is the basic LIC ADO salary?
A: The starting basic salary for an ADO in LIC is ₹21,865/-.
Q: What is the application fee for the LIC ADO?
A: For GEN & OBC: ₹600+transaction charges
For all other candidates: ₹50+transaction charges
Q: What is the age limit for LIC ADO?
A: Minimum: 21 years
Maximum: 30 years
Q: How many phases are there for LIC ADO Selection?
A: The LIC ADO selection is done in three phases:
Q: How many vacancies are there in LIC ADO 2020?
A: The vacancies for LIC ADO 2020 have not yet been released. On the basis of previous years, the expected number of vacancies is 8581.
Q: In how many languages can I give the LIC ADO examination?
A: The LIC ADO is bilingual. You can choose to give the exam in either Hindi or English.