NIACL AO Salary, Perks, Job Profile & Career Growth: Detailed Analysis

NIACL AO Salary, Perks, Job Profile & Career Growth: Detailed Analysis

NIACL AO Salary, Perks, Job Profile & Career Growth: Detailed Analysis

New India Assurance Company Limited has announced 685 vacancies for the post of NIACL Assistant. For all the details of the NIACL Assistant Recruitment check out the links given in this blog. This blog would be providing all the information you need about NIACL Assistant Salary, the associated benefits and perks, Job description of NIACL Assistant and career growth. Read on to know more.

To help our users, we will discuss complete details of NIACL AO Salary, Job Profile, Perks and Career Growth of an NIACL Administrative Officer. Along with this, we will also discuss the comparison between NIACL AO and a bank PO.

NIACL Assistant Salary – Structure

  • A NIACL assistant will get approximately ₹23,500 per month as a salary in a metro city.
  • The Basic Salary Scale will be as follows – 14435-840(1)-15275-915(2)-17105-1030(5)-22255-1195(2)-24645-1455(3}-2901 0-1510(2)-32030-1610(5)-40080
  • Apart from the basic component, NIACL Assistant Salary would also include other allowances like Dearness Allowance (DA), Newspaper Allowance, etc.
  • These allowances will vary depending upon the place of posting.
  • Also, there are allowances depending upon the position a NIACL Assistant holds in office.

NIACL Assistant Salary – Additional Perks

  • Accommodation benefits in major cities
  • Reimbursement of hospitalization expenses
  • Medical policies
  • Leave encashment
  • Leave travel subsidy
  • Other staff welfare schemes

NIACL Assistant Salary – Job Description

NIACL Assistant is five days a week job with a comparatively less workload.
Job description of a NIACL Assistant varies as per the department he/she has been assigned to. There are 3 departments to which a NIACL assistant could be assigned – Underwriting, Claims and Accounts. Let us look at the Job description for each of these departments –

1) Accounts Department:

  • He/she would be required to work on Balance sheets preparation.
  • An assistant would have work for processing of payments
  • The Job would also involve handling of various other Financial transactions, etc.

2) Claims Department:

  • Clerical Work related to legal and no legal aspect of insurance claims
  • Reviewing and preparing the various claims and insurance policies, the related forms and other documents
  • Maintaining records related to customer queries, claims request.
  • Settlement, rejection of claims based on rules
  • Assisting in resolving customer queries on various policies, etc.

3) Undertaking:

  • Work in this department is mostly related Data Entry.
  • Entering and retrieving financial and other data using a computer
  • Writing various kinds of business correspondence
  • Issuing of policies
  • Gather data and information regarding finance, etc.

NIACL Assistant Salary – Career Growth

  • First 6 months would be the probation period for a NIACL Assistant.
  • NIACL Assistants get ample opportunities to get promoted to Officer level through internal exams.
  • The process of internal exams and promotions is very transparent in the Insurance Sector
  • NIACL Assistants can get promoted to the post of Administrative Officer, Development Officer and Manager.

NIACL AO or Bank PO which is Better Career Option?

  • The AO has a still a defined work profile compared with a bank PO. An officer in a bank is expected to everything, let it be a clerical, cashier or any work that is entrusted upon him.
  • The work pressure is more on a bank PO as compared to an NIACL AO.
  • The probation in most of the banks is 2 years and it is 1 year for AO. The perks and benefits are good in both the jobs.
  • New India Insurance Company Limited is a 5-day working job, i.e. weekends are off. Whereas in PO, only alternate weekends are off.
  • It is expected that in this settlement of the banks wage revision, the banks will also get all weekends off, however, it is still an expectation.
  • AOs have fixed timing and the job is less transferable. However, POs or any other Officers in the bank have no defined timings (even the RTI to RBI revealed this).
  • The job of a PO is more transferrable and banks are also located in remote places, unlike New India Insurance Company Limited offices. Also, there are more chances of rural postings in PO than in AO.
  • The life of AO is much more peaceful than a PO however, promotion chances of AO are lesser in comparison with PO. There is a bond period of 4 years in case of AO and generally 2 years in case of a PO.
  • So all in all, NIACL AO job is suitable for those people who want a secure, comfortable and easy life.
That is all from us about NIACL Assistant Salary – Structure, Perks, Job description and Career Growth. We hope you find the information provided in this blog useful.

Download the NIACL Assistant Recruitment 2018 Notification

NIACL Assistant Recruitment 2018 – NotificationClick Here
NIACL Assistant Exam SyllabusClick Here
NIACL Assistant Toppers’ Preparation StrategyClick Here
NIACL Assistant Exam Pattern – 2018 Recruitment ExamClick Here
NIACL Assistant Cutoff Scores – 2017Click Here
NIACL Assistant Books and resourcesClick Here

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All the best for NIACL Assistant Exam 2018

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