NIACL AO Salary 2021: The New India Assurance Company Limited releases the recruitment notification to recruit candidates for the posts of Administrative Officers. NIACL AO recruitment is not annual and therefore the candidates wait for the release of the NIACL AO notification. It is one of the most reputed jobs in the insurance sector. This year NIACL had released a notification to recruit 300 candidates for the posts of Administrative Officers. Candidates preparing for the NIACL AO Exam have a common doubt regarding the NIACL AO Salary, Job Profile, and career growth.
In this article, we will tell you about the NIACL AO salary, perks, allowances, and benefits you will receive as an Administrative Officer in the NIACL.
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| Basic Pay | Rs.32,795 |
| Pay Scale | Rs. 32795-1610(14)-55335-1745(4)-62315 |
| Total Salary | Rs. 60,000/- p.m |
The NIACL AO salary of the employee increases with the promotion. The candidates start as an AO and can reach up to CMD. The hierarchy of the promotion in the NIACL is as follows:
Administrative Officer
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Assistant Manager / Branch Manager
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Deputy Manager / Divisional Manager
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Manager / Sr. Divisional Manager
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Chief Manager / Regional Manager
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Deputy General Manager
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General Manager
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CMD
The job profile under NIACL AO varies depending upon whether the post is of Generalist or Specialist although the NIACL AO salary for all the posts remains the same. The Specialist officers include Company Secretary, Legal Officer and Finance and Accounts Officer. The job profile for each of the posts is as below:
NIACL AO is one of the largest general insurance companies in India. To become a NIACL AO is a dream of many as it not only provides job security and a handsome salary but also provides a name that people can rely on. There is various work profile of a NIACL AO depending on the post i.e. Generalist or a specialist.
A NIACL Administrative Officer are assigned any one of the following departments -:
The departments are assigned based on the vacancies available in each of these departments.
Apart from the job profile, the NIACL AO salary, perks and allowances are the same for Generalists as well as specialists.
The bond period for NICL is 4 years. That is, the direct recruited AOs need to give an undertaking in writing to serve NICL for a minimum of 4 years. Those who will resign before the bond period will be liable to pay damages equivalent to one year’s gross salary of NICL AO + Rs.25,000 towards the cost of training.
The Selected Candidates for the Post of NIACL AO will be appointed in the Officer Cadre. The Probation period for NIACL AO selected candidates will be one year from the duty joining date. Insurance Institute of India conducts a Non-Life Licentiate Examination as an eligibility exam for the candidates who are selected as officer cadre in the Insurance Company. So the Selected Candidates for the Post of NIACL AO would be required to pass the Non-Life Licentiate Examination during the probation period.
The Officer will be confirmed for their services in New India Assurance Company only after passing the Non-life Licentiate Examination. So passing in the Eligibility Exam is most important for the candidates selected under NIACL AO.
On appointment for the post of NIACL AO, the selected candidates may be appointed or transferred to any place in India which will be decided by the Company. The Service Conditions for NIACL AO will be applicable to the selected candidates for NIACL AO as per the rules of the company. The minimum initial posting stay will be 5 years for the NIACL AO Selected Candidates.
Q: What is the basic pay amount in the NIACL AO salary?
A: The basic pay in the NIACL AO salary is Rs. 32,795.
Q: What is the total monthly salary of NIACL AO?
A: The monthly salary of NIACL AO is approximately Rs. 60,000.
Q: What are the allowances and benefits of a NIACL AO?
A: There are various perks and allowances of a NIACL AO such as Medical Benefits, Group Personal Accident Insurance, National Pension System governed by PFRDA, Gratuity, LTS, leased accommodation, etc.
Q: What is the approximate total annual pay of a NIACL AO?
A: The annual salary of a NIACL AO is approximately Rs. 7,20,000.
Q: Is there a bond period in NIACL AO?
A: Yes, there is a bond period of 4 years if selected as a NIACL Administrative Officer.