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