LIC AAO Archives - ixambee Bringing the latest exam news to you. Mon, 08 May 2023 08:35:22 +0000 en-US hourly 1 https://wordpress.org/?v=6.7 Winning Strategies Revealed: How To Crack LIC AAO Interview 2023  https://www.ixambee.com/blog/winning-strategies-revealed-how-to-crack-lic-aao-interview-2023 https://www.ixambee.com/blog/winning-strategies-revealed-how-to-crack-lic-aao-interview-2023#respond Thu, 04 May 2023 13:12:02 +0000 https://www.ixambee.com/blog/?p=17615 The Life Insurance Corporation of India (LIC) is the foremost insurance provider in India. As the results for LIC AAO 2023 Mains were just declared on March 8th, 2023, candidates are advised to make the most of every moment and begin their preparation to crack the upcoming LIC AAO interview, expected to be held in […]

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The Life Insurance Corporation of India (LIC) is the foremost insurance provider in India. As the results for LIC AAO 2023 Mains were just declared on March 8th, 2023, candidates are advised to make the most of every moment and begin their preparation to crack the upcoming LIC AAO interview, expected to be held in May 2023. Passing this prestigious insurance exam opens doors to a promising career in the industry.

The LIC AAO 2023 exam date notification was officially released on 15th January 2023. With the successful completion of the LIC AAO 2023 mains exam and LIC AAO Mains 2023 results, aspirants are now dedicatedly focusing on preparing for the crucial LIC AAO 2023 interview process. 

This blog aims to provide candidates with information regarding the LIC AAO Interview Date 2023, enabling them to “How To Ace LIC AAO Interview 2023 with ease”

LIC AAO Interview Date 2023 and Qualification Criteria

The LIC AAO interview is expected to take place in the second week of May. For LIC AAO Interview Marks 2023, the maximum score that can be obtained is 60. 

Important Instructions for LIC AAO Interview Marks 2023:

  1. Qualifying Marks: Candidates who fail to obtain the minimum qualifying marks as determined by LIC will not proceed to the subsequent stages of the selection process.
  2. Final Decision: The decision made by LIC regarding interview marks and the selection process will be considered final and binding on the candidates. No correspondence in this matter will be entertained.
  3. Interview Call: The number of candidates to be called for an interview will be approximately three times the number of vacancies available, considering the successful candidates from the online main examination. The selection will be based on the candidates’ ranking within their respective categories.

Tips for Answering Questions Based on the Candidate’s Profile 

  1. Highlight Relevant Experience: Carefully review the job description and identify key skills and experiences required. During the interview, emphasize your relevant qualifications and highlight specific achievements that demonstrate your capabilities in those areas.
  2. Showcase Transferable Skills: Even if you lack direct experience in a certain aspect of the role, emphasize your transferable skills. These are skills that can be applied across different industries or job functions. Provide examples of how your transferable skills have been utilized in previous positions and explain how they can benefit the prospective employer.
  3. Discuss Professional Development: Employers value candidates who actively seek growth opportunities. Highlight any professional development activities you have undertaken, such as certifications, workshops, or additional education. Explain how these initiatives have enhanced your skills and knowledge in the field.
  4. Demonstrate Adaptability: Employers seek individuals who can quickly adapt to new challenges and environments. Discuss instances where you have successfully adapted to change, tackled unfamiliar tasks, or handled unexpected situations. This will showcase your versatility and ability to thrive in different work scenarios.
  5. Personalize Your Story: Make your profile memorable by sharing personal anecdotes that demonstrate your passion and commitment to your field. Explain what motivates you and why you are particularly asset for the industry or company. By showcasing your authentic enthusiasm, you can create a connection with the interviewer and leave a lasting impression.

Some Common Questions Include 

  1. Tell me about yourself.

“I’m a finance and insurance professional with a strong educational background and relevant certifications. Detail-oriented, analytically skilled, and passionate about serving customers’ financial needs. Excited to contribute to LIC’s mission.”

  1. Strengths and weaknesses.

Strengths: Analytical skills, attention to detail, adaptability. Weakness: Public speaking.

  1. Challenging situation and resolution.

Handled tight project deadlines by prioritizing tasks, coordinating with the team, and efficient resource management.

  1. Handling stress and pressure.

Calm under pressure, manage time, prioritize tasks, utilize stress-relief techniques like exercise and meditation.

  1. Long-term career goals.

Advance in the insurance industry, take leadership roles, and contribute to LIC’s growth through continuous learning and development.

Tips for Answering Questions on Current Affairs and General Awareness 

  • Stay Updated: Regularly read newspapers, follow reputable news websites, and subscribe to relevant industry newsletters. Stay informed about current events, industry trends, and the latest developments in your field.
  • Understand the Context: When answering questions on current affairs, consider the broader context and implications. Demonstrate your ability to analyze and critically think about the topic at hand.
  • Formulate Balanced Opinions: When expressing your views on controversial topics, strive to present a balanced perspective. Acknowledge different viewpoints and support your opinions with logical reasoning and evidence.
  • Practice Verbalizing Your Thoughts: Engage in discussions or debates with friends or colleagues to practice articulating your thoughts clearly and succinctly. This will help you respond confidently during the interview.
  • Relate Current Affairs to the Industry: Connect current affairs to your field of expertise or the industry you’re applying to. Demonstrate how your knowledge of current events can contribute to your role and the organization’s success.

Additional Tips to Crack LIC AAO Interview 2023 

  • Dress Professionally: Choose appropriate attire that aligns with the company’s culture and dress code.
  • Practice Body Language: Pay attention to your posture, eye contact, and facial expressions. Practice confident body language to make a positive impression.
  • Prepare Questions: Prepare a list of thoughtful questions to ask the interviewer. This shows your interest in the role and allows you to gather important information.
  • Go for Mock Interviews: Practice with a friend or family member who can provide constructive feedback on your interview style and answers. With these additional tips you can Crack LIC AAO Interview 2023 

To help you prepare 50% faster for competitive exams, ixamBee provides free Mock Test Series and Current Affairs relevant for exams in English and Current Affairs in Hindi in the BeePedia capsules. You can also get the latest updates for Bank PO, Bank Clerk, SSC, RBI  NABARD and Other Government Jobs.

Conclusion:

Being well-prepare for the LIC AAO 2023 interview is crucial. You can Crack LIC AAO Interview 2023 Interview by utilizing the advice and tips mentioned above. The tips and guidelines provided can help you enhance your overall performance and increase your chances of securing the desired job. Remember that preparation, confidence, and effective communication are essential for succeeding in job interviews. With practice and the right attitude, you can excel in interviews and make a lasting impression on potential employers. Good luck to prepare for the LIC AAO 2023 interview!

Also Read

From Preparation to Performance: Roshan’s Tips for Acing the RBI Grade B Exam

RBI Grade B Preparation By ex-RBI | Central Bank of India: History & Functions

RBI Grade B 2023: Winning Strategy Part 3

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LIC AAO Result 2022 Out!! Check LIC AAO Mains Result https://www.ixambee.com/blog/lic-aao-result-2022-out-check-lic-aao-mains-result https://www.ixambee.com/blog/lic-aao-result-2022-out-check-lic-aao-mains-result#respond Tue, 18 Jan 2022 10:42:34 +0000 https://www.ixambee.com/blog/?p=8176 LIC AAO Result 2022 The LIC AAO Result 2022 for Mains exam has been announced. Team ixamBee wishes all successful candidates the very best. We hope you will begin your LIC AAO Interview Preparation immediately. LIC AAO Mains Result PDF Download LIC AAO Interview The final phase of the LIC AAO Exam Pattern 2021 will […]

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LIC AAO Result 2022

The LIC AAO Result 2022 for Mains exam has been announced. Team ixamBee wishes all successful candidates the very best.

We hope you will begin your LIC AAO Interview Preparation immediately.

LIC AAO Mains Result PDF Download

LIC AAO Result 2022 Out

LIC AAO Interview

The final phase of the LIC AAO Exam Pattern 2021 will comprise an Interview. The LIC AAO Interview will be held for 60 marks.

LIC AAO Result 2021

Take a look at the LIC AAO Prelims Result 2021.

LIC AAO/AE 2021 Exam Date

The LIC AAO/AE 2021 Preliminary exam was held on August 28, 2021.

The LIC AAO Mains 2021 exam was held on October 31, 2021.

At ixamBee you can find a number of Online Courses, GK updates in the form of BeePedia, as well as latest updates for Bank PO, Bank Clerk, SSC, RBI, NABARD and Other Government Jobs.

Also read

GIC Re vs LIC: Preparing for Managerial Level Exams 

List of Important Insurance Abbreviations -LIC AAO, UIC, NIACL AO

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Insurance Vs Assurance: Important for NIACL /LIC / UIC and others https://www.ixambee.com/blog/insurance-vs-assurance-important-for-niacl-lic-uic-and-others https://www.ixambee.com/blog/insurance-vs-assurance-important-for-niacl-lic-uic-and-others#respond Fri, 12 Nov 2021 04:51:30 +0000 https://www.ixambee.com/blog/?p=9521 Life is full of uncertainty. We cannot predict what can happen to us the next moment. We see a lot of accidents, deaths in natural calamity or in general as well. If your accident happens, you may be responsible for all related costs (treatment, tests, and medicines) which can be overwhelming sometimes. To get the […]

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Life is full of uncertainty. We cannot predict what can happen to us the next moment. We see a lot of accidents, deaths in natural calamity or in general as well. If your accident happens, you may be responsible for all related costs (treatment, tests, and medicines) which can be overwhelming sometimes. To get the protection against such unexpected financial losses, the insurance companies come into play. In today’s article we will discuss the terms such as Insurance and Assurance in detail. This article will also clear the confusion people might have between Insurance and Assurance. 

What is Insurance?

Insurance is a contract in which an insurer protects you against losses from specific contingencies or accidents. In this the individual or entity receives financial protection or reimbursement against losses from an insurance company. In simple words it is nothing but an agreement with a company in which they agree to pay the costs if anything happens to you in return of your premium that is paid monthly.

Are you automatically insured against any unforeseen incident in India?  

In India, you are not insured against any risk unlike other developed countries such as Australia, Canada and others unless you buy any of the policy (premium) provided by various insurance companies. You can avail the benefit of the insurance provided you buy a policy and pay a certain amount every month to your company. You can also get insured through your employer. Most of the companies insure their employees against any health risks.  In case you are working in a company, you can check this with your HR. 

Types of Insurance

There are many types of insurance. Some very popular insurances are given in the table below.

Health Insurance:

Helps you pay for doctor fees and sometimes prescription drugs. Once you buy health insurance coverage, you and your health insurer each agree to pay a part of your medical expense — usually a certain amount or percentage of the expenses.

Life Insurance

Death is inevitable and our loved ones can face economic hardship when we die. Life insurance eases the burden of that economic risk. Through life insurance, one can protect surviving family members by paying a relatively small amount, called the premium, to an insurance company. When the insured person dies, the insurance company pays a relatively large sum of money to the beneficiaries of the policy

In India, Life Insurance Corporation of India or LIC is prominent in the market that provides Life insurance through various schemes. You can check LIC website to know in detail.

Auto/ Vehicle Insurance

Auto insurance is a contract between an individual and the insurer that protects you against financial loss in the event of an accident or theft. In exchange for your payment of premium, the insurance company agrees to pay your losses as outlined in the policy.

It insures you against

  • Property –  for example, damage to or theft of your car
  • Liability – your legal responsibility to others for bodily injury or property damage

Government entities that provide auto insurance in India are NIACL or New India Assurance Co. Ltd., NICL or National Insurance Company and others.

Unlike India, many countries provide free health care services to their citizens. In other words, they insure them with any health risk under their expense, this term is known as Assurance. Let’s understand it in detail. 

What is Assurance? 

Assurance is similar to insurance, however, insurance refers to coverage over a limited time, whereas assurance applies to persistent coverage for extended periods or until death. Also, in Assurance the insurer gets its money back in case no loss of life takes place. In India, Life Insurance of India or LIC provides insurance like that. On the date of maturity the policy holder gets the entire amount back in case no loss of life takes place. 

Types of Assurance 

Unlike insurance which is applicable to fire, theft, auto, marine and other services, assurance deals mainly with Life insurance. LIC provides a number of assurance policies to its customers among various policies. To know about it in detail you can visit the website of LIC. 

Also Read:

Insurance Schemes Launched by the Government of India

FDI in Insurance Sector

List of Important Insurance Abbreviations -LIC AAO, UIC, NIACL AO

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LIC AAO Prelims Result 2021 Out!! Best Strategy for Mains Exam https://www.ixambee.com/blog/lic-aao-prelims-result-out-best-strategy-for-mains-exam https://www.ixambee.com/blog/lic-aao-prelims-result-out-best-strategy-for-mains-exam#respond Wed, 29 Sep 2021 09:02:52 +0000 https://www.ixambee.com/blog/?p=8937 The Life Insurance Corporation has finally announced the result of the Preliminary examination held on August 28, 2021. Candidates who have taken this exam can check the LIC AAO/AE 2021 Prelims result by downloading the PDF against the name of the examination you have taken. For your convenience, we have attached all the merit lists for you […]

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The Life Insurance Corporation has finally announced the result of the Preliminary examination held on August 28, 2021. Candidates who have taken this exam can check the LIC AAO/AE 2021 Prelims result by downloading the PDF against the name of the examination you have taken.

For your convenience, we have attached all the merit lists for you below.

AAO (Actuarial)AAO (Rajbhasha)AAO (IT) final
Assistant Engineer (MEP)AAO (CA)Assistant Architect
AE CivilAssistant Engineer (Structural) AAO (Legal)
Assistant Engineer (Electrical)

As we have seen from the results this year, around 1000 candidates have been selected to appear in the Mains examination for the AAO IT Officer Specialist Post. Now that you have made it thus far, we hope you will prepare very well for your Mains exam as well. For any assistance that you may need, you will find the LIC AAO IT Online Course at your disposal.

LIC AAO/AE Strategy for Mains

Now that you are done with the Prelims exam, you should nose-dive into your Mains preparation. Take a look at the LIC AAO Mains exam pattern and syllabus and other important details related to the exam. 

Like the IT Course, we also have an LIC AAO Mains Online Course exclusively dedicated to the Mains exam preparation for all streams.

Descriptive English Preparation

The aforementioned LIC AAO Mains Online Course helps candidates prepare for all the subjects with a special focus on the Descriptive English section of the paper. 

Candidates for whom the English Language is not a strong suit, often find this section of the paper very difficult. However, with ixamBee, you have nothing to worry about! Our subject experts have curated the course with feedback that they have received from students over the years. 

Meet our mentors who will help you prepare for the Descriptive English section:

Dr. Sanjeev Sharma: Dr. Sharma holds a Ph.D. in English from IIT Kanpur. He also earned his Master’s degree in English from Hindu College, Delhi University, and his B.A. (Hons) English from Banaras Hindu University.​ ​ He is an expert in English writing. 

Manali Mukherjee: Manali ma’am has completed her B.Ed. from Loreto College, Calcutta, and Masters in English Literature from Calcutta University. She is an expert faculty for English Language and Descriptive English. 

Arunima Sinha: Arunima is an Ex- Grade B SIDBI Officer and an Ex- Bank PO. For more than a decade now, she has been helping students prepare for competitive exams. She is ixamBee’s subject expert for English Language, English Writing, Reasoning, and also preparation guidance.

Watch Manali ma’am’s video to understand her pedagogical method. 

We hope you will make the most of this opportunity that has come your way. For any other queries or clarification, please leave a comment below. 

Team ixamBee wishes you the very best!!

At ixamBee you can find free Online Test Series, GK updates in the form of BeePedia, as well as latest updates for Bank PO, Bank Clerk, SSC, RBI, NABARD and Other Government Jobs.

Also read

GIC Re vs LIC: Preparing for Managerial Level Exams

List of Important Insurance Abbreviations -LIC AAO, UIC, NIACL AO

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LIC AAO 2021: Last Minute Tips for You! https://www.ixambee.com/blog/lic-aao-last-minute-tips-for-you https://www.ixambee.com/blog/lic-aao-last-minute-tips-for-you#respond Sat, 21 Aug 2021 13:23:52 +0000 https://www.ixambee.com/blog/?p=8323 The LIC AAO 2021 Preliminary exam is scheduled to be held on August 28, 2021. We have only a few more days to go before the exam day now. So, your strategy for these last few days should be different as you should now focus on rest and revision rather than studying. In this article, […]

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The LIC AAO 2021 Preliminary exam is scheduled to be held on August 28, 2021. We have only a few more days to go before the exam day now. So, your strategy for these last few days should be different as you should now focus on rest and revision rather than studying.

In this article, we have compiled some tips that you can use in these last few days so that you can maximize on your preparation, rest and perform your best in the exam all at the same time. 

LIC AAO Exam 2021 Preparation: Final Tips

  • Put down your books! Stop all studying and focus this time on rest and revision.
  • We would urge you to not begin studying any new topics now. Rather, focus on revising what you have already learnt previously.  
  • We hope you have analyzed some LIC AAO previous years’ papers while you were preparing for the exam. If not, you should take a look at them right now. 
  • For your English exam, you can do some light reading. This will help you improve your grammar and vocabulary. This reading will allow you to continue your preparation without stressing you out. 
  • When you read the comprehension in the English language section of the paper, read it carefully and thoroughly. This is one of the most scoring parts of the paper since all the answers to subsequent questions already lie within the text. 
  • Additionally, take a look at some important questions on Reasoning that will help you revise. 
  • You can take a few LIC AAO mock tests this last week. This will help you understand your overall standard of preparation and at the same time give you a feel of the real exam. 
  • We would strongly advise you to attempt one mock test every day before the exam. 
  • When you take these mock tests, ensure you are able to complete each section within its allotted time, i.e., 20 minutes. In case you are unable to do so, it is something that you should focus on, on your exam day. 
  • Additionally, take some cues from toppers on how to clear the LIC AAO exam effectively. 

LIC AAO Exam 2021 Important Points to remember

  • While study and revision are important, resting well is equally important in these last few days. Take a break from your preparation so that you can refresh your mind and rest your body.  
  • Take some time off, watch a movie or meditate. Do any activity that you enjoy and that helps you take your mind off the exam for some time. 
  • Do this routinely for till the exam day. In fact, all exam-related work should be over and terminated on the evening of the exam. 
  • On the actual exam day, focus on yourself and your strengths. 
  • Your attitude matters a lot. This is why you should keep your thoughts positive at all times. Do not let stress or nervousness get in the way of you achieving your dreams. 
  • If you are feeling as if you have not studied enough or do not remember what you have studied, do not worry. It is quite normal for examinees to feel that way before any exam. We strongly urge you to believe in yourself and your preparation. 
  • After this intense period of study, what you need most is to rest. You may not be able to perform your best if your mind and body are tired. You will need speed and mental agility on your side on the day of the examination, for which you need to take proper rest. 
  • Keep everything that you will need for the exam prepared on the evening before the exam. Do not leave any preparation for the exam day itself. 
  • Remember to download your LIC AAO admit card and keep it in your exam bag. It would be best if you do it right now, lest you forget. 
  • You must remember to follow all COVID-related safety protocols at the exam centre. Maintain adequate distance from others if you have to stand in any line. Similarly, do not crowd at the gate in a rush to leave the exam hall after the exam. Your health is of utmost importance. 

Once you have taken the Preliminary exam, you should not wait to begin your Mains exam preparation. Although we hope you have been studying for the Mains all along, in case you haven’t, now there is not a moment to lose. Take a short break for a few days and then get back on the track. Resume your preparation once again with the attitude that you have already cleared the Prelims paper. 

If you need any sort of assistance, our LIC AAO Mains Online Course is at your disposal. Take a look at what we offer and how it will help you in your preparation. 

At all times, we tell our students the same thing that should be the cornerstone of your entire journey to landing your dream job, i.e., believe in yourself. 

Team ixamBee wishes you all the very best! 

At ixamBee you can find free Online Test Series, GK updates in the form of BeePedia, as well as latest updates for Bank PO, Bank Clerk, SSC, RBI, NABARD, and Other Government Jobs.

Also read

GIC Re vs LIC: Preparing for Managerial Level Exams 

Current Account Deficit: Meaning, Causes and More

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GIC Re vs LIC: Preparing for Managerial Level Exams  https://www.ixambee.com/blog/gic-re-vs-lic-preparing-for-managerial-level-exams https://www.ixambee.com/blog/gic-re-vs-lic-preparing-for-managerial-level-exams#respond Thu, 08 Jul 2021 13:05:49 +0000 https://www.ixambee.com/blog/?p=7533 Thousands of aspirants appear for insurance exams every year in India. GIC AM and LIC AAO are two important exams that we will discuss in this article. These exams are highly coveted for several reasons such as less work pressure compared to other government banking jobs and limited public dealing.  The GIC AM exam that […]

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Thousands of aspirants appear for insurance exams every year in India. GIC AM and LIC AAO are two important exams that we will discuss in this article. These exams are highly coveted for several reasons such as less work pressure compared to other government banking jobs and limited public dealing. 

The GIC AM exam that was initially scheduled to be held on May 9, 2021, was postponed until further notice. Similarly, the LIC AAO exam that was scheduled for April 4, 2020, was also postponed due to the COVID- 19 pandemic. Considering the peculiar times that we are in now, lots of candidates have become despondent and unmotivated and left their preparation midway. Now that, as a country, we are learning to get back up on our feet, it is time for you to reignite your motivation and take to your books once again. 

In this article, we will look at the important information concerning both these exams such as expected exam dates, exam patterns and such and how you can prepare for both exams simultaneously.

GIC AM 2021 vs LIC AAO 2021 Exam Dates

The GIC AM Exam 2021 is expected to be held in September/October 2021. The LIC AAO Exam 2021 notification is expected to be released in August 2021. The LIC AAO exam is conducted 2 months after the notification is out. So, if you start preparing now, you have almost 4 months, give or take, to prepare for both the exams. 

GIC AM 2021 vs LIC AAO 2021 Salary 

Take a look at the salary and perks enjoyed by insurance officers working with GIC or LIC in the table below. 

Exam NameIn-hand salaryPerks
GIC AM Salary & Perks65,000/monthNew Pension Scheme and NewspaperInternet AllowanceLeave Travel SubsidyMedical BenefitsHouse Furnishing AllowanceHousehold Help AllowanceSodexoPersonal Accident Coverhousing, vehicle and computer loans with subsidized interests
LIC AAO Salary & Perks58,000-60,000/monthDefined Contributory PensionSpecial Allowance for passing Actuarial ExaminationGratuityLTC, Cash Medical Benefits Group Mediclaim, GroupPersonal Accident InsuranceGroup Insurance Vehicle Loan (2-wheeler/4 wheeler) as per rules

GIC AM 2021 vs LIC AAO 2021 Exam Pattern

The exam pattern for both exams is the same, in the sense that both exams are conducted in 3 phases. Take a look at the table below to understand the patterns in detail. 

GIC AM 2021LIC AAO 2021
Phase 1- Computer-based objective exam
Phase 2- Group Discussion and Interview
Phase 3- Medical examination 
Phase 1- Preliminary Exam (1 paper)
Phase 2- Mains Exam (1 paper)
Phase 3- Interview

GIC AM 2021 vs LIC AAO 2021 Common Syllabus 

You should take a look at the entire syllabus for both exams. In doing so, you will find that there are some subjects that are common for both exams for which the syllabus is also the same. They have been shown in the table below. 

ReasoningQuantitative Aptitude General/Financial AwarenessEnglish Language 
Statement based QuestionsSyllogismSeating ArrangementCoding-DecodingAlpha Numeric SequencePuzzlesSeating ArrangementBlood Relation,
AnalogyOdd One Out
Data InterpretationTime and WorkSpeed, Distance and TimeNumber SeriesApproximationSimple Interest and Compound InterestProfit and LossAverageMixture and AllegationsRecent credit and monetary policies Indian EconomyOverview of Indian Financial SystemCurrent AffairsNational and International MattersCurrency and CapitalAwards and HonoursGeneral History, Geography,
Biology and Applied Science
Reading ComprehensionSentence ArrangementCloze Test,
Error SpottingSentence ImprovementSynonyms-AntonymsPhrasesElementary Grammar

We understand that you have been waiting a long time now for the exam notifications to be out. However, now that things are finally looking up and exams are expected to be announced soon, you should get a head start on your preparation. If you want to gauge your preparation, you can take some of our free mock tests at any time. 

You can learn more about these exams concerning the previous years’ cut-offs, eligibility criteria and such on ixamBee. You should keep an eye out for the notifications and important updates.

You can join our online courses for GIC AM Exam 2021 and LIC AAO Exam 2021. In these courses, you will find all the required study material coupled with live sessions with expert faculty and Interview guidance. Whilst preparing for either or both exams, you should be quite thorough with the important details concerning the exams. 

While you are waiting for the exam updates to be out, you can review previous years’ question papers that will help you with your preparation. These can be reviewed at any stage of your preparation for free.

At ixamBee you can find free Online Test Series, GK updates in the form of BeePedia, as well as latest updates for Bank PO, Bank Clerk, SSC, RBI, NABARD and Other Government Jobs.

Also read 

How to Prepare for GIC Assistant Manager Scale-1 Officer Exam

GIC Assistant Manager Recruitment Notification is here!

List of Important Insurance Abbreviations -LIC AAO, UIC, NIACL AO

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Insurance Schemes Launched by the Government of India https://www.ixambee.com/blog/insurance-schemes-launched-by-the-government-of-india https://www.ixambee.com/blog/insurance-schemes-launched-by-the-government-of-india#respond Thu, 12 Mar 2020 09:10:54 +0000 https://www.ixambee.com/blog/?p=3374               One of the most important things that the Government keeps in mind while framing the Annual Budget is the Social Security of the citizens. It is one of the most crucial aspects as it contributes heavily to the overall growth of the nation. The Government of India has launched various Insurance-related schemes in the […]

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              One of the most important things that the Government keeps in mind while framing the Annual Budget is the Social Security of the citizens. It is one of the most crucial aspects as it contributes heavily to the overall growth of the nation. The Government of India has launched various Insurance-related schemes in the past. Be it Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Aam Aadmi Bima Yojana (AABY) or Pradhan Mantri Fasal Bima Yojana (PMFBY), the Government always ensured that maximum benefit of the scheme must be provided to the citizens so that their economical, as well as overall development, can be achieved.

LIC AAO 2020 notification has been released and the Prelims examination of the same has been scheduled to be held on April 04, 2020. In order to assist you in the General awareness section, I have come up with Insurance-related schemes launched by the Government of India. This topic will be very helpful from the exam point of view. Questions of 1 to 2 marks can be expected from this topic in the LIC AAO Mains exam 2020.

Following are some of the very important Insurances schemes that have been launched by the Government of India:

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a government-backed Life insurance scheme. It was launched on May 09, 2015, in Kolkata, India. It is a renewable term insurance policy being LIC as the major insurer of the scheme. Other Insurer can also offer this scheme provided they have to link with the banks. The life cover can be availed till the attainment of 55 years of age. This scheme is linked under the bank accounts opened under Pradhan Mantri Jan Dhan Yojana scheme.

Some major key features of the scheme are given below:

  1. It covers accidental and natural death risk.
  2. The risk cover of the scheme is rupees 2 lakh.
  3. The edibility of this scheme is that a person should fall under the age of 18 to 50 years and must have a bank account.
  4. The premium to be deducted for this scheme is rupees 330 per annum. This premium will be debited for the bank account of the subscriber.
  5. The cover period is 1st June of each year to 31st May of the subsequent year.
  6. It offers tax benefits under 80C of the Income-tax Act.
  7. It is a group insurance scheme and does not require a health certificate or information on pre-existing diseases for joining.

Pradhan Mantri Suraksha Bima Yojana (PMSBY)

Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a centrally sponsored scheme launched on May 09, 2015, alongside Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). It was launched in Kolkata, India. The scheme will be offered by all Public Sector General Insurance Companies. Other insurers who are willing to join the scheme need to tie-up with banks for this purpose.

Some major key features of the scheme are provided below:

  1. It is an accidental death and disability insurance scheme.
  2. A person should be in between 18 to 70 years of age to avail the benefit of this scheme. Having a bank account is also mandatory.
  3. Risk cover of this scheme is as follows:
    • Death – Rs.2 lakh
    • Total disability- Rs.2L
    • Partial disability Rs1L
  4. A premium that is paid for this scheme is rupees 12 per annum. This amount will be deducted from the subscriber’s bank account.
  5. The cover period is 1st June of each year to 31st May of the subsequent year.

Note: Total disability is referred to total and irrecoverable loss of both eyes or loss of use of both hands or feet or loss of sight of one eye and loss of use of hand or foot;

Partial disability refers to total and irrecoverable loss of sight of one eye or loss of use of one hand or foot.

Aam Aadmi Bima Yojana (AABY)

AABY or Aam Aadmi Bima Yojana (AABY) was a social security scheme for rural landless households. It came into effect from January 01, 2013.

All the existing schemes of Aam Aadmi Bima Yojana (AABY) were converged with the launch of new social security schemes – PMJJBY and PMSBY from June 01, 2017.

The Key Features of the original AABY were:

  1. Eligibility of age 18-59 years and should be head/earning member of a family below the poverty line.
  2. Life risk cover of Rs.30, 000 to the enrolled beneficiaries as per the eligibility conditions notified by the Government of India.
  3. Risk cover of the scheme was as follows:
    • Accidental and Total Permanent Disability cover of Rs.75, 000
    • Partial Permanent Disability cover of Rs.37, 500.
  4. Scholarship as “Add-On” benefits to eligible children of enrolled beneficiaries at Rs.100 per month.
  5. Premium to be paid was Rs.200 per annum.
    • 50% of the total premium per member per annum under AABY is contributed by Government of India Social Security Fund maintained by LIC of India.
    • In case of Rural Landless Household (RLH) remaining 50% premium shall be borne by the State Government/ Union Territory and in case of other occupational groups the remaining 50% premium shall be borne by the Nodal Agency and/or Member and/or State Government/ Union Territory

Convergence of AABY with PMJJBY/PMSBY

After the introduction of PMJJBY and PMSBY, existing members of AABY was divided into two parts as per according to the age.

Members in Age group 18 to 50:

  • Will be converged with PMJJBY / PMSBY
  • They will be provided insurance cover of Rs.2 lakh under PMJJBY for the premium of Rs.330/- per annum
  • They will also be covered under PMSBY for Accidental and Disability Insurance for premium of Rs.12/- per annum.
  • The Scheme is named as converged PMJJBY/ PMSBY with an annual premium of Rs.342/-

Members in Age group 51 to 59 years:

  • They will continue in the existing format of AABY
  • They will continue to get the existing insurance benefits with current premium rate of Rs.200/- under the Converged AABY Scheme.

Pradhan Mantri Fasal Bima Yojana (PMFBY):

Pradhan Mantri Fasal Bima Yojana (PMFBY) is the Crop insurance scheme of the government of India. It was launched on February 13, 2016 by Prime Minister Shri Narendra Singh Modi. PMFBY replaced the previous two crop insurance schemes National Agricultural Insurance Scheme (1999) and the Modified NAIS (2010).

In order to stabilize the income of the farmers, this scheme was launched to provide insurance coverage and financial support to the farmers in the event of failure of any of the notified crop as a result of natural calamities, pests & diseases.

Some Key Features of the Pradhan Mantri Fasal Bima Yojana (PMFBY) scheme:

  1. Premium to be paid by farmers is as follows:
    • 2% premium for all Kharif crops
    • 1.5% for all Rabi crops
    • 5% for annual commercial and horticultural crops
  2. Balance premium to be paid by Government. There is no upper limit on government subsidy for premium.
  3. Comprehensive risk insurance to cover yield losses due to natural calamities, pests and disease and post-harvest losses cover for cyclonic and unseasonal rain
  4. Unit of insurance – Area Approach basis i.e. Defined Areas for each notified crop

Pradhan Mantri Jan Dhan Yojna (PMJDY) – Insurance Benefits

Pradhan Mantri Jan Dhan Yojana was as a financial inclusion program of the government. It was launched on August 28, 2014 by Prime Minister Shri Narendra Singh Modi.  Under this scheme, Bank accounts were opened to provide access to banking facilities for all households across the country.

The insurance-related benefits provided under this program are:

Life Insurance cover of Rs.30, 000 on death due to any reason will be provided by the Life Insurance Corporation of India under the following circumstances.

  • The person should be between 18 to 59 years of age
  • He/she should have been enrolled under PMJDY under August 15, 2014 to January 31, 2015
  • He/she should also be holder of a valid RuPay Card)

In the case of Accident, an Accident Insurance Cover of Rs.1 Lakh will be provided by the Government through General Insurance Companies.

Note:

For new PMJDY accounts opened after August 28, 2018, Accidental insurance cover for new RuPay cardholders to be raised from Rs.1 lakh to Rs.2 lakh.

As not many days are left for the exam, you must focus on attempting the LIC AAO 2020 mock tests in order to increase your speed as well as the score. If you are confused about which mock test series to take, we have got you covered. We are providing Free Full-length mock tests on the LIC AAO exam 2020. If you need assistance with the preparation of the LIC AAO 2020 exam you can also take our Online Course for the same.

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LIC AAO 2019: LIC AAO Mains Admit Card Released https://www.ixambee.com/blog/lic-aao-lic-aao-mains-admit-cards-released https://www.ixambee.com/blog/lic-aao-lic-aao-mains-admit-cards-released#respond Wed, 12 Jun 2019 11:33:55 +0000 https://www.ixambee.com/blog/?p=1445 LIC AAO 2019 Mains Admit Card Out!  LIC had released the official notification for LIC AAO (Assistant Administrative Officer) in March 2019. The total number of vacancies announced were 590 which were divided into various posts- Generalist/IT/Chartered Accountant/Actuarial/Rajbhasha. A large number of candidates applied for the same. The LIC AAO Prelims Exam 2019 was conducted in […]

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LIC AAO 2019 Mains Admit Card Out! 

LIC had released the official notification for LIC AAO (Assistant Administrative Officer) in March 2019. The total number of vacancies announced were 590 which were divided into various posts- Generalist/IT/Chartered Accountant/Actuarial/Rajbhasha. A large number of candidates applied for the same. The LIC AAO Prelims Exam 2019 was conducted in the month of July and the results were recently released. All the candidates who managed to qualify the exam will have to appear in the next phase, i.e. LIC AAO Mains. LIC has now released the admit card for the Main Exam and candidates are advised to download their admit cards from the official website of LIC by entering the correct registration/roll number and password. They will have to bring this admit card along with a valid identity proof. The LIC AAO Main Exam is scheduled to be held on 28th June.

All the candidates who will be appearing for LIC AAO Mains 2019, should be well prepared by now. It is the time for revision and practice. Practicing LIC AAO Mains mock tests will give a clear assessment of the level of your preparation and will also help in enhancing the accuracy and speed and will at the end improve your performance in the actual LIC AAO Exam.

Check your LIC AAO Mains Admit Card here.

All the Best!

Also Read:

LIC AAO 2019 Insurance & Finance Complete Syllabus

LIC AAO 2019 Complete Syllabus With Other Details

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LIC AAO Prelims: May 4, 2019, Shift 1 Exam Analysis https://www.ixambee.com/blog/lic-aao-prelims-may-4-2019-shift-1-exam-analysis https://www.ixambee.com/blog/lic-aao-prelims-may-4-2019-shift-1-exam-analysis#respond Sat, 04 May 2019 08:09:08 +0000 https://www.ixambee.com/blog/?p=1222 LIC AAO 2019 Prelims exam was scheduled on May 4-5, 2019. The first shift of Day 1 is done and many of you might be eagerly waiting to know the exam analysis of LIC AAO Prelims Day 1. Here we are with exam analysis and review of LIC AAO Day 1 (May 4, 2019) shift […]

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LIC AAO 2019 Prelims exam was scheduled on May 4-5, 2019. The first shift of Day 1 is done and many of you might be eagerly waiting to know the exam analysis of LIC AAO Prelims Day 1. Here we are with exam analysis and review of LIC AAO Day 1 (May 4, 2019) shift 1 analysis and review.

Let us look at LIC AAO Day 1 (May 4, 2019) Shift 1 Analysis:

Total 3 Sections with 100 Questions to be answered in 60 minutes (20 minutes for each section). There was no negative marking (a relief for all).

The sequence of the sections was Reasoning, Quantitative Aptitude, and English. The level of Day 1 exam was Easy to Moderate& it was easy as compared to last year exam.

LIC AAO 2019 Prelims Number of Attempts

LIC AAO Sections Good Attempts Minimum-Cut Off
English Language 15-17 10
Reasoning Ability 26+ 18
Quantitative Aptitude 27+ 18
TOTAL 55+(out of 70)

LIC AAO Prelims Quantitative Aptitude Analysis (Easy to Moderate)

Topic No. of Questions Level
DI(Tabular) 5 Easy
DI(pie chart) 5 Easy
Quantity Based 5 Easy
 Number Series(Wrong) 5 Moderate
Miscellaneous (Arith.) 10 Moderate
Approximation 5 Easy
Total 35 Easy-Moderate

Few Questions asked in the exam:

Q 1. The total cost of the two articles is Rs. 4400. If one is sold at 15% profit & second is sold at 18% profit. SP of both is the same. Find the CP of the second article?

Q 2. Length of the first train is 150m & Length of the second train is 250m. Speed of the first train is 20 m/s and it crosses the second train in the opposite direction in 4 seconds. What is the speed of the second train?

LIC AAO Prelims English Language Analysis (Easy-Moderate)

Topic No. of Questions Level
Reading Comprehension 8 Moderate
Para-jumbles 5 Easy
Cloze Test 7 Easy
Spelling Correction 5 Easy
Sentence Correction 4 Easy
Word usage 5 Easy
Total 30 Easy-Moderate

RC based on Insurance & AI.

Cloze test was very easy.

In sentence corrections, in every question there were 2-3 sentences given, you have to find which sentences is/are correct. More than 1 could be the answer.

In word usage, few sentences were given from a word and you have to find how many sentences is/are correct in usage.

LIC AAO 2019 Prelims Reasoning Ability Analysis (Easy-Moderate)

Topic No. of Questions Level
Sitting Arrangement and Puzzles 20 Easy
Inequality 5 Easy
Direction Sense 3 Easy
Syllogism 5 Moderate
Pairs (Forward & Backward) 1 Easy
Coding Decoding 1 Easy
Total 35 Easy- Moderate

4 Puzzles & Seating arrangement:

10 Persons in a row facing north

7 Persons buying a gift, based on sequence, who buys first, second and so on.

The circular seating arrangement of 9 persons facing inside.

Puzzle with 2 parameters

Syllogism – 5 Q

Only a few, Very few & At least were used

5Q inequalities were very easy, 3 of them were in straight lines while 2 were in two liners.

1 question on coding decoding –pattern was +1, -1, +1 , -1.

Golden word was given and Health was asked.

1 Question on a number based on forward & backward direction

STATEMENTS:
a)All S is J.
b)Some S is R.
c)All R is Z.

CONCLUSIONS:
a)Some S is not Z.
b) Some R can be J.

Practice free mock test for LIC AAO Mains here

Watch the LIA AAO Prelims exam analysis here

You are done and dusted with LIC AAO Prelims exam, the next rung in your ladder is to crack LIC AAO Mains exam. We know many of you may be confused, worried about how to read for LIC AAO mains exam especially Insurance & Financial Market Awareness section. ixamBee has launched a crash course which exclusively covers Insurance & Financial Market Awareness section.

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LIC AAO Prelims 2019: Last Minute Effective Tips To Achieve Success https://www.ixambee.com/blog/lic-aao-prelims-last-minute-effective-tips-to-achieve-success https://www.ixambee.com/blog/lic-aao-prelims-last-minute-effective-tips-to-achieve-success#respond Thu, 02 May 2019 18:17:53 +0000 https://www.ixambee.com/blog/?p=1169 LIC AAO prelims exam is scheduled on May 4-5, 2019. Cracking LIC AAO exam being your goal, you have burned the midnight oil to prepare well and excel in the exam. To be better than your competition, you have to make use of each minute available to you as ultimately your performance on the day of […]

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LIC AAO prelims exam is scheduled on May 4-5, 2019. Cracking LIC AAO exam being your goal, you have burned the midnight oil to prepare well and excel in the exam. To be better than your competition, you have to make use of each minute available to you as ultimately your performance on the day of the exam determines your road to LIC AAO Mains. To help you be ahead of the competition, we have come up with last minute tips for LIC AAO prelims exams which will help you crack the exam with high score.

Last Minute Tips for LIC AAO Prelims 2019:

 

Knowledge of the Syllabus is power

Knowing the LIC AAO prelims syllabus thoroughly before the exam day is a key to crack the exam. Being thoroughly aware of the syllabus and exam pattern will help you strategize the 60 minutes in a proper way.

                                                                                                                                       The first step to success is planning

Have a proper plan in your mind before you enter the exam hall which is also crucial to avoid any surprises on the exam day. You very well know your strong and weak areas and therefore plan in such a way that you utilize the 60 minutes to the utmost level. There is no negative marking, however, do not waste much of the time on questions you are not sure about.

Time is your most valuable ally

60 minutes are very crucial for you. Your performance in these 60 minutes is the stepping stone for you to enter LIC AAO mains exam. Try to answer questions you are confident about. Skip any questions you feel are taking more time, you can come to them in the end if you have time.

Hit the bullseye fast

Accuracy and speed are the key to crack LIC AAO Prelims exam. Though there is no negative marking, do not waste time on questions which you are not confident. Answer only those questions you are sure about and know the answers accurately.

Short notes can go a long way

Try to prepare short notes which you can revise during the last hour. Make short notes of shortcut tips, formulae, concepts, GK updates etc. Highlighting important points as well will be very useful in the eleventh hour.

Proper nutrition keeps the mind sharp

Have a nutritious and healthy breakfast before the exam to boost up your energy levels. Do not skip breakfast and go to the exam hall empty stomach.

A rested mind is an alert mind

Take at least 8-9 hours proper sleep a night before the exam as your brain requires proper rest to perform well on the day of the exam. Avoid last-minute stress, if you feel stressed try to take a few deep breaths by closing your eyes. Try to exercise before entering the exam, this will help in reducing the stress levels and clearing the mind as well.

Keep a checklist

Keep a checklist of all the important documents to be carried to the exam hall. You need to be at the exam centre for at least 3 hours before the reporting time. Below are the important documents you need to carry to exam hall:

  • Valid Call Letter
  • Passport Photographs
  • Photo ID proof
  • Aadhar Card

Remember, success comes to those who plan well ahead and keep the variables to a minimum. Make sure you follow all the points mentioned above, and you are sure to come out with flying colors.

Click here to practice free mock tests for LIC AAO Mains Exam

All the best!!

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