Introduction
LIC Assistant Engineers (AE) is one of the best entry-level jobs in the insurance sector and hence, is highly demanding. Lakhs of candidates appear for LIC AE exam to start their career in the insurance sector. The job offers great salary, opportunities to learn everything about the insurance sector and grow both in both personal and professional levels. LIC AE Salary and Perks section covers the details about the Pay Scale and the other allowances & perks of LIC AE Job post.
Salary
- The Basic salary will be 32795 which is pending for revision from August 2017.(expect it to be above 50k after wage revision)
- Current Dearness Allowance is around 54.4% which comes out to approx 17840
- House Rent Allowance - 10% as all training centers are in Class A cities so 3279.
- After training candidate can also go for staff quarters if available or avail lease accommodation, the rates for which is
- Metro - Rs.20000 per month
- Class A - Rs.15000 per month
- Class B - Rs.10000 per month
- Class C cities - Rs.8000 per month
- City Compensatory Allowance - 3% so 983
- Transport Allowance - 1330
- So the gross during training would be around 57000.
Apart from the above emoluments candidates will be entitled for
- Sodexo meal coupons - Rs.185 for each working day
- Reimbursement of Expenses towards Household help - Rs.1000 PM
- Entertainment Reimbursement - Rs.800 PM
- Mobile bill Reimbursement - Rs.400 PM
- Newspaper Reimbursement - Rs.200 PM
- Cash Medical Benefit - Rs.13300 PA
- Mobile Handset Reimbursement - Rs.10000 once in 3 years
- Office bag Reimbursement - Rs.3000 once in 3 years
- Leave travel concession - 3000km each to and fro 2nd AC Fare with family once in 2 years
- PLLI BONUS up to 6% of the total yearly Basic + DA
- Insurance cover of 50Lakhs (GIS) + 8 lakhs (GSLI) + 10lakhs (GTS)
- Medical claim cover up to 40 lakhs for he/she and their dependents.
- Defined contribution Pension Scheme - Equal contribution of 10% of Basic + DA from corporation.
| LIC AE Starting Salary as on March 2020 | ||||
|---|---|---|---|---|
| Benifits | Metro | Class A City | Class B City | Class C City |
| Basic Pay | 32795 | 32795 | 32795 | 32795 |
| Dearness Allowance (54.4%) | 17840 | 17840 | 17840 | 17840 |
| Travel Allowance | 1330 | 1330 | 1330 | 1330 |
| House Rent Allowance | 3279 | 3279 | 2624 | 2295 |
| Lease | 20000 | 15000 | 10000 | 8000 |
| City Comepensatory Allowance | 983 | 820 | 656 | 0 |
| REIMB of Expenses towards household help | 1000 | 1000 | 1000 | 1000 |
| Entertainment (Tea/Coffee) Reimburesment | 800 | 800 | 800 | 800 |
| Sodexo Meal Coupons (AVG 22 Days) | 4070 | 4070 | 4070 | 4070 |
| Mobile Recharge Reimburesment | 400 | 400 | 400 | 400 |
| News Paper Reimburesment | 200 | 200 | 200 | 200 |
| LIC Contribution in DCPS (10% of Basic + DA) | 5063 | 5063 | 5063 | 5063 |
| Mobile Handset MLY EQUIVALENT | 277 | 277 | 277 | 277 |
| PLLI Bonous (AVG 3%) MLY EQUIVALENT | 1037 | 1037 | 1037 | 1037 |
| Briefcase REIMB MLY EQUIVALENT | 84 | 84 | 84 | 84 |
| CTC PER ANNUM WITH HRA | 829896 | 827940 | 818112 | 806292 |
| CTC PER ANNUM WITH LEASE ACCOMODATION | 1030548 | 968592 | 906624 | 874752 |
LIC AE – Related Information
LIC AE 2020 – Official Notification (English)
LIC AE 2020 – Official Notification (Hindi)
LIC AE 2020 – Eligibility
LIC AE 2020 – Apply Online
LIC AE 2020 – Selection Process
LIC AE 2020 – Exam Pattern
