Institute of Banking Personnel Selection Life Insurance Corporation Recruitment Exam [IBPS LIC]

IBPS LIC 2018

Exam Date : 28th January 2018 To 29th January 2018
Result Date : 16th February 2018

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An Overview on IBPS LIC 2018

  • LIC is the biggest insurance company in India.
  • LIC was Constituted by an Act of Parliament 60 years ago.
  • Life Insurance Corporation of India presently operates from more than 3000 offices, and the managed assets under the company already crossed 16 lakh crores.
  • LIC is also one of the greatest employers in India.
  • As of 2015, the company has a reported employee strength close to 1L, and, at least, 10 Lakh agents.
  • The officers and regular employees in LIC of India are chosen through an online entrance test, that is now managed by IBPS LIC.

Duties of LIC Officer:

  • Managing accounts
  • Communicating daily affairs with authorities
  • Planning branch activities
  • Implementing decisions taken at higher level
  • Dealing with legal matters
  • Processing claims
  • Marketing
  • Taking advertising strategies
  • Managing funds, etc.

Advantages of Career at LIC:

  • LIC is responsible for policy sales and hiring new agents for the corporation.
  • LIC is one of the officials who trains and guides the agents on policy servicing and customer assistance.
  • AAO job is not directly involved in LIC policy sales, so they don’t have any targets.
  • ADOs may have sale targets to achieve, and their promotion and emoluments are associated with the business they bring in.
  • AAO Job is suitable for both men and women.
  • However, ADO position may involve a bit more travelling and field work.
  • It would be difficult for the women officers who are not experienced in sales.
  • The latest salary figure of an LIC AAO is above Rs. 40,000 and is more than what a Bank PO gets.
  • ADOs have lower salaries, but their earning potential is unlimited on account of the commission revenue.
  • Sundays and Saturdays are holidays for LIC Officers.
  • LIC officers are entitled to life insurance at a lower premium, health coverage, gratuity, PF, loans. etc.

Disadvantages of Career at LIC:

  • LIC requires the newly appointed officers to sign a job contract/bond for four years from the date of their joining.
  • You will have to pay around Rs. 2 Lakhs to the corporation if you wish to switch to a better job in this period.

IBPS LIC 2018 Exam Posts:

  • LIC Agent/ Advisor
  • LIC DSE - Direct Sales Executives
  • LIC FSE - Financial Services Executives
  • LIC AAO - Assistant Administrative Officer
  • LIC ADO - Apprentice Development Officer
  • LIC Assistant Post

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