{"id":3940,"date":"2019-10-29T23:28:17","date_gmt":"2019-10-29T17:58:17","guid":{"rendered":"http:\/\/yourcareerheights.com\/?page_id=3940"},"modified":"2019-11-02T17:21:11","modified_gmt":"2019-11-02T11:51:11","slug":"lic-ado-2019-all-you-should-know-about-lic-ado","status":"publish","type":"page","link":"https:\/\/yourcareerheights.com\/?page_id=3940","title":{"rendered":"LIC ADO 2019 &#8211; All you should know about LIC ADO"},"content":{"rendered":"<div id=\"pl-3940\"  class=\"panel-layout\" ><div id=\"pg-3940-0\"  class=\"panel-grid panel-no-style\" ><div id=\"pgc-3940-0-0\"  class=\"panel-grid-cell\" ><div id=\"panel-3940-0-0-0\" class=\"so-panel widget widget_sow-editor panel-first-child\" data-index=\"0\" ><div class=\"panel-widget-style panel-widget-style-for-3940-0-0-0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<h3>LIC ADO 2019: Interview Tips<\/h3>\n<p>Life Insurance Corporation has notified LIC ADO Recruitment notice offering an opportunity to the graduates to apply for Government job by qualifying LIC ADO 2019 Exam. Now the Interview shall commence from 4th November 2019. Hence we give below few Interview tips for LIC ADO.<\/p>\n<p>LIC is the largest Insurance Company with its turnover in millions every year with its Insurance and Investment schemes. It has number of departments with numerous workers working all over India. LIC is playing incredible role in the Economy of the country by giving revenue support and business.<\/p>\n<p style=\"text-align: center;\"><strong>Interview Tips for LIC ADO -2019<\/strong><\/p>\n<p><strong>\u00a0<\/strong><strong>Tips To Groom Yourself<\/strong><\/p>\n<p>A candidate\u2019s attire plays an important role if appearing for the interview phase. The way you carry your dress can leave a good Impression on the interviewer. One should choose the attire as per the working environment and work culture. Some students use to dress up as if they are going for a party which is a big turn off in their interview round. Once attire conveys a lot about their readiness, about the job and work. The attire where public dealings are done should be very formal. You are not expected to wear a range of brands instead, a clear and ironed dress would make it in the interview round.<\/p>\n<p><strong>TIPS ON GROOMING FOR LIC ADO 2019<\/strong><\/p>\n<p><strong>Attire for a male candidate<\/strong><\/p>\n<p><strong>1.<\/strong>A two-piece matched suit with no bright colours is a perfect choice to be wear at the time of interview.<br \/>\n<strong>2. <\/strong>Be very decent and normal. Avoid the range of brands. Be who you are.<br \/>\nBlack, navy blue or dark grey are the best colours to be chosen while appearing for it.<br \/>\n<strong>3. <\/strong>You can also wear a light-coloured shirt paired with dark-coloured trousers. It is also a good choice.<br \/>\n<strong>4<\/strong>. Do not forget to pair your suit or shirt with a suitable tie. Do not wear floral or printed ties. A plain tie would be a safe choice.<br \/>\n<strong>5. <\/strong>The colour of the belt should be dark.<br \/>\n<strong>6<\/strong>.Say no to sports shoes at the time of interview. Prefer to Wear black or brown in colour shoes.<br \/>\n<strong>7. <\/strong>Wear dark socks with mid-calf length so that no skin is visible even when you sit down.<br \/>\n<strong>8.<\/strong>Do not wear any kind of accessories. Just a simple watch to complete your attire.<\/p>\n<p><strong>Attire for a female candidate<\/strong><\/p>\n<p><strong>1<\/strong>.It is advisable to keep a check on the bank\u2019s work culture and then wear the dress accordingly.<br \/>\n<strong>2.<\/strong>The female candidates have a choice to wear formal trouser with a light shirt, Salwar suit or saree.<br \/>\n<strong>3<\/strong>.If you are wearing salwar kameez, then go for light coloured cotton fabric. It should be simple and should not be loaded with embroidery. Do not wear a party wear suit.<br \/>\n<strong>4<\/strong>. Use little makeup, just to touch up or to give a polished look to yourself.<br \/>\nDo not make use of dark coloured lipstick.<br \/>\n<strong>5<\/strong>.The nails must be clean and well-groomed. If you are wearing a nail colour it should be light in colour which is evenly applied on all the nails. Chapped nail polish looks bad.<br \/>\n<strong>6<\/strong>. Make sure you tied up your hairs to avoid any bothering during interview.<br \/>\n<strong>7.\u00a0<\/strong>Wear dark colour formal shoes with the formal attire.<br \/>\n<strong>8<\/strong>. If you are wearing saree or suit, avoid wearing heels. You can opt for slightly heeled or flat sleeper.<br \/>\n<strong>9. <\/strong>If you are carrying a purse make sure it must be simple and small with no bright stones on it. Avoid carrying large bags. Do not use bright colours. Black and brown can be a good choice.<\/p>\n<p><strong>Tips On disposition<\/strong><\/p>\n<ul>\n<li>Enter the room with the smiling face and greet all of them good morning\/Good noon.<\/li>\n<li>Do not sit until they ask you to sit.<\/li>\n<li>Try not to put your hands on the table. Keep your body straight and your hands on your lap.<\/li>\n<li>Do not smile too much or don\u2019t be very serious. Don\u2019t put your hands-on you head pretending like you are nervous or trying to recall something.<\/li>\n<li>Make eye contact with the interviewer, If you are answering the question. Make sure you maintain the eye contact, with everyone present over there.<\/li>\n<li>don\u2019t interrupt while the interviewer is speaking. Listen to their question very carefully.<\/li>\n<li>Try not to stammer and don\u2019t look puzzled.<\/li>\n<li>Think before you speak.<\/li>\n<\/ul>\n<p><strong>Research Well About The organization<\/strong><\/p>\n<p>Always get the complete information about the organization you are going to appear for. The interviewer may ask you questions about that organization. Be familiar with the history of the organization and what is happeing all around.<\/p>\n<p><strong>Revise Commonly Asked Questions<\/strong><\/p>\n<p>Always pay attention to the questions that an interviewer asked repeatedly. Instead of giving the same replies make your own answer, as it will be more impressive for him. Give your answers with confidence as it is the key ingredient to present yourself.<\/p>\n<p><strong>Be Very Charming<\/strong><\/p>\n<p>Interviewer notices everything you do. Like how do you behave, sit, stand and walk? Keep a check on your body postures. Do not be very rigid or robotic. Be yourself.<\/p>\n<p><strong>Learn To Accept-\u201cNO\u201d<\/strong><\/p>\n<p>It is possible that you may not know the answer to a few questions. Instead of giving wrong answers learn to accept that right now you don\u2019t know the answer but you will definitely read about it. Or you are unable to recall it now. Give smart answers it leaves a positive impression on the interviewer.<\/p>\n<p><strong><em>MOST IMPORTANT QUESTIONS FOR LIC AAO 2019 INTERVIEW.<\/em><\/strong><\/p>\n<p><strong>Ques-1:<\/strong>\u00a0What are the Functions of LIC AAO ?<\/p>\n<p><strong>Ques-2:<\/strong>\u00a0Do you have any insurance plan or any other plan with LIC?<br \/>\nDo you have any account with any Bank?<\/p>\n<p><strong>Ques-3:\u00a0<\/strong>What do you know about the LIC AAO &amp; LIC ADO profile?<\/p>\n<p><strong>Ques-4:<\/strong>\u00a0Why do you want to join this organization?<\/p>\n<p><strong>Ques-5:\u00a0<\/strong>Why should we hire you? How you are profitable to our organization?<\/p>\n<p><strong>Ques-6:\u00a0<\/strong>What do you know about recent current news related to LIC ? Explain any one of them.<\/p>\n<p><strong>Ques-7:<\/strong>\u00a0Burning Issues and Hot topics around the world.<\/p>\n<p><strong>Ques-8:<\/strong>\u00a0What is your current job profile? (for working candidates)<\/p>\n<p><strong>Ques-9:\u00a0<\/strong>What are your career objectives and goals for the next five years?<\/p>\n<p><strong>Ques-10:\u00a0<\/strong>What is your family background and education qualification?<\/p>\n<p><strong>What is meant by With Profit and Without Profit in Insurance Policy?<\/strong><\/p>\n<p><strong>Ans.<\/strong>\u00a0With Profit Insurance policy is bonuses are added if any after periodical calculations which are applicable to the policy. And the added amount is payable along with the policy amount. Insurance Policy without profit is the mature policy amount has no added amount. There is no bonuses or amount are added only policy matured amount if payable.<\/p>\n<p><strong>What do you mean by Keyman Insurance?<\/strong><\/p>\n<p><strong>Ans:<\/strong>\u00a0This is obtained from business platform on the life of key employees to protect the business from financial losses. The losses may occur due to premature demise of the Keyman.<\/p>\n<p><strong>What is the Insurance Sector\u2019s FDI Limit?<\/strong><\/p>\n<p><strong>Ans:\u00a0<\/strong>In India, FDI limit for Insurance Sector is 49%. The government increased the FDI Upper limit from 26 % to 49% in the year 2014.<\/p>\n<p><strong>What do you understand about Life Insurance?<\/strong><\/p>\n<p><strong>Ans:<\/strong>\u00a0Life Insurance is the agreement between policy holder and insurance organization. The Organization approves to provide the compensation for the incident happened to the policy holder like death or terminal illness or critical illness. The policy holder is accepting to pay the defined amount in terms of cover premium for the service.<\/p>\n<p><strong>List the available Insurance Types.<\/strong><\/p>\n<p><strong>Ans:\u00a0<\/strong>Life Insurance, Vehicle Insurance, Health Insurance, Credit Insurance, Property Insurance.<\/p>\n<p><strong>Explain about the types of Insurance companies?<\/strong><\/p>\n<p><strong>Ans:<\/strong>\u00a0Life Insurance Company \u2013 It provides insurance policies for life, pension products and allowances. (Eg. LIC)<\/p>\n<p>General Insurance Company \u2013 It provided insurance policies for vehicle, health, property and so on. (Eg. Insurance in Bank, Bajaj Allaianz)<\/p>\n<p><strong>Where is LIC Head Quarters located?<\/strong><\/p>\n<p><strong>Ans:<\/strong>\u00a0Mumbai.<\/p>\n<p><strong>What are the main objectives of LIC?<\/strong><\/p>\n<p><strong>Ans:<\/strong><\/p>\n<ul>\n<li>Spread Life Insurance widely and in particular to the rural areas<\/li>\n<li>Maximize mobilization of people\u2019s savings<\/li>\n<li>Conduct business with utmost economy and with the full realization<\/li>\n<li>Meet the various life insurance needs of the community that would arise in the changing social and economic environment.<\/li>\n<li>Promote amongst all agents and employees of the Corporation a sense of participation, pride and job satisfaction.<\/li>\n<\/ul>\n<p><strong>What are the roles and responsibilities of Development Officer?<\/strong><\/p>\n<p><strong>Ans:<\/strong><\/p>\n<ul>\n<li>Supervise and guide the events of the Agents.<\/li>\n<li>Increase the joining of new agents to the company.<\/li>\n<li>Motivate new Agents, so as to grow a stable agency force.<\/li>\n<\/ul>\n<p><strong>Who is the current Chairman of LIC and IRDA?<\/strong><\/p>\n<p><strong>Ans:<\/strong><\/p>\n<ul>\n<li><strong>R Kumar<\/strong>\u00a0has been appointed as Managing Directors of the\u00a0LICfor five years from<\/li>\n<li><strong>Subhash Chandra Khuntia \u2013 Chairman of IRDA (<\/strong>Insurance Regulatory and Development Authority of India<strong>).<\/strong><\/li>\n<\/ul>\n<p><strong>When was LIC founded?<\/strong><\/p>\n<p><strong>Ans:\u00a0<\/strong>LIC was founded on 1<sup>st<\/sup> September 1956.<\/p>\n<\/div>\n<\/div><\/div><\/div><div id=\"panel-3940-0-0-1\" class=\"so-panel widget widget_sow-editor panel-last-child\" data-index=\"1\" ><div class=\"panel-widget-style panel-widget-style-for-3940-0-0-1\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<h3>LIC ADO 2019: Interview Tips - Study Material<\/h3>\n<h3 style=\"text-align: center;\">8 important Organisation Scheme of the LIC<\/h3>\n<p>As per the suggestions of Era-Sezhiyan Committee, the LIC has adopted reorganisation schemes of its divisional and branch offices. At present the reorganisation work has been completed in all the divisions and branches.<\/p>\n<p><strong>Reorganised Divisions: <em>The reorganised divisions have nine departments. The marketing department, planning and review department and divisional management committee are important departments of the divisions. These are discussed in the following sections:<\/em><\/strong><\/p>\n<p><strong>1. Marketing Department:<\/strong><\/p>\n<p>It is responsible for branch performance and is the single point of contact for supervising them. The department is responsible for judging the quality of work done in branches through its sections sales, policy-holders\u2019 service section, sales training section and branch support section.<\/p>\n<p><strong>(a) Sales Section:<\/strong><\/p>\n<p>It is responsible for carrying out supervisory functions relating to sales and the field-force and customer-satisfaction.<\/p>\n<p>The major task of the sales managers in charge of the sales section is the supervision of the sales functions at the branches and the performances of the field-personnel.<\/p>\n<p>This section is also responsible for spreading awareness among the general public about the benefits of life insurance and the nature of cover that LIC\u2019s policies provide and how section assesses the quality of business of the various branches and effectiveness of their plans in penetrating the respective territories and markets assigned.<\/p>\n<p><strong>(b) Policyholders\u2019 Service Section:<\/strong><\/p>\n<p>It is responsible for supervising the policyholder servicing function including claims and the operational function of early settlement of claims. It handles matters referred to divisional office by branches in respect to all policyholder\u2019s service functions.<\/p>\n<p>It may undertake the training of branch staff and carry out time liners and the quality of the service rendered by the branches to the policyholders. This section has also to deal with the individual cases referred to by branches. All old claims have to be got investigated and settled by this section.<\/p>\n<p><strong>(c) Sales Training Section:<\/strong><\/p>\n<p>This section is entrusted with responsibility for training in product, in selling and sales planning in the field personnel. It arranges and conducts training of field-personnel, such as ABM (D), development officers and agents.<\/p>\n<p><strong>(d) Branch Support Section:<\/strong><\/p>\n<p>It is responsible for providing secretarial support to the various sections in marketing department. It provides administrative support to the sections under the Marketing Manager. This section is responsible for analysis of budget proposals and monthly review of data.<\/p>\n<p>They analyses the performance data, raise special issues concerning the performance of branches and generally help the various sections in the marketing department to process work and perform liaison work with other departments and take up routine functions as assigned to them.<\/p>\n<p>They have to undertake general follow up of routine matters with the branches and with other departments of the Divisional Office.<\/p>\n<p>The marketing department controls the entire sales and service functions in the Divisional area and also services as a single point contract between the branches and the departments of the divisional office.<\/p>\n<p><strong>2. New Business and Actuarial Department:<\/strong><\/p>\n<p>New Business and Actuarial Department is responsible as specialists to decide on the proposal referred to the divisional office in respect to all individual, SSS and GSD proposals, cheque, Declined Life Index Cards and undertake supervisory, inspection tasks, vis-a-vis branches.<\/p>\n<p>They also have the responsibility to train new business incumbents in branches according to their judgment of their capabilities and of their needs. This department is responsible for supervision of branch functions from under-writing to issue of policy, appointment and control of medical examiners etc.<\/p>\n<p>It underwrites proposals of higher sum assured, which are beyond the powers of the branches and conducts actuarial valuation and undertakes actuarial research.<\/p>\n<p><strong>3. Accounts Department:<\/strong><\/p>\n<p>The Accounts Departments is responsible for supervision of accounts in the branches, collection of branch accounts and all the accounting functions in the division, also training of staff and test-checking how well the work in branches is being done. Accounts department has two sections:<\/p>\n<p>(a) Branch Accounts Section has responsibility for supervision of branch accounts, expenses and training of staff. They analyses the trial-balances from branches and recommend suitable action to divisional management, (b) General Accounts Section which has three units: (i) Cash and Banking Section; (ii) Salary and Provident Fund Section; and (iii) Final Accounts Section.<\/p>\n<p><strong>4. Legal and Mortgage Department:<\/strong><\/p>\n<p>The legal and mortgage department has the responsibility for all legal and mortgage loan work in the division. They advise branches when required for mortgage loans and legal matters.<\/p>\n<p><strong>5. Office Management Department:<\/strong><\/p>\n<p>The office management department consists of two divisions; (a) Purchase Section which has responsibility for purchases, inventory and materials utilisation and (b) Service Section that consists of security dispatch, duplicating and office services, transportation etc.<\/p>\n<p><strong>6. Machine Department:<\/strong><\/p>\n<p>It is responsible for data processing and offers service to user-departments in the Divisional office and to branches that do not have machine support.<\/p>\n<p>It has two sections (a) System Section which is responsible to oversee the systems and programmes of data processing machines in branches and division; (b) Operations Section that is responsible for providing machine support to branches that do not have an in-house system, as also to the divisional office.<\/p>\n<p><strong>7. Personnel Department:<\/strong><\/p>\n<p>It consists of three sections:<\/p>\n<p><em><strong>(a) Management Development Section:<\/strong><\/em><\/p>\n<p>This section is responsible for management forecast, management development and career planning of staff. It has responsibility to ensure that branches implement the policies laid down in letter and spirit. They carry out periodic personnel audit to ensure that the corporate plans and policies are implemented satisfactorily.<\/p>\n<p><em><strong>(b) Industrial Relations Section:<\/strong><\/em><\/p>\n<p>It is responsible to develop relations with trade unions and to carry out negotiations in matters that relate to the division as a whole.<\/p>\n<p><em><strong>(c) Training Section:<\/strong><\/em><\/p>\n<p>It is responsible for organising programme for supervisors and middle management personnel within the division. This section is also responsible to organise functional programmes according to the needs of various departments in the divisional office.<\/p>\n<p><strong>8. Planning and Review Department:<\/strong><\/p>\n<p>The planning and review department has responsibilities in two main areas. One is the operation section with responsibility for locality data suitable for planning, education and developing among concerned people.<\/p>\n<p>The other is the Special Studies Section with responsibility for undertaking studies that the performance data may indicate or the divisional management may consider necessary.<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><div id=\"pgc-3940-0-1\"  class=\"panel-grid-cell\" ><div id=\"panel-3940-0-1-0\" class=\"so-panel widget widget_sow-editor panel-first-child\" data-index=\"2\" ><div class=\"panel-widget-style panel-widget-style-for-3940-0-1-0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<h3>LIC ADO 2019: Interview Tips - Study Material<\/h3>\n<p>Know About Your Life Insurance<br \/>\nLife insurance in India made its debut well over 100 years ago.<\/p>\n<p>In our country, which is one of the most populated in the world, the prominence of insurance is not as widely understood, as it ought to be. What follows is an attempt to acquaint readers with some of the concepts of life insurance, with special reference to LIC. It should, however, be clearly understood that the following content is by no means an exhaustive description of the terms and conditions of an LIC policy or its benefits or privileges.<\/p>\n<p>For more details, please contact our branch or divisional office. Any LIC Agent will be glad to help you choose the life insurance plan to meet your needs and render policy servicing.<\/p>\n<p><strong>What Is Life Insurance?<\/strong><\/p>\n<p>Life insurance is a contract that pledges payment of an amount to the person assured (or his nominee) on the happening of the event insured against.<\/p>\n<p>The contract is valid for payment of the insured amount during:<br \/>\n\u00bb The date of maturity, or<br \/>\n\u00bb Specified dates at periodic intervals, or<br \/>\n\u00bb Unfortunate death, if it occurs earlier.<\/p>\n<p>Among other things, the contract also provides for the payment of premium periodically to the Corporation by the policyholder. Life insurance is universally acknowledged to be an institution, which eliminates 'risk', substituting certainty for uncertainty and comes to the timely aid of the family in the unfortunate event of death of the breadwinner.<br \/>\nBy and large, life insurance is civilisation's partial solution to the problems caused by death. Life insurance, in short, is concerned with two hazards that stand across the life-path of every person:<\/p>\n<p><em>1.That of dying prematurely leaving a dependent family to fend for itself.<\/em><br \/>\n<em>2.That of living till old age without visible means of support.<\/em><\/p>\n<p><strong>Life Insurance Vs. Other SavingsContract Of Insurance:<\/strong><br \/>\nA contract of insurance is a contract of utmost good faith technically known as uberrima fides. The doctrine of disclosing all material facts is embodied in this important principle, which applies to all forms of insurance.<\/p>\n<p>At the time of taking a policy, policyholder should ensure that all questions in the proposal form are correctly answered. Any misrepresentation, non-disclosure or fraud in any document leading to the acceptance of the risk would render the insurance contract null and void.<\/p>\n<p><strong>Protection:<\/strong><br \/>\nSavings through life insurance guarantee full protection against risk of death of the saver. Also, in case of demise, life insurance assures payment of the entire amount assured (with bonuses wherever applicable) whereas in other savings schemes, only the amount saved (with interest) is payable.<\/p>\n<p><strong>Aid To Thrift:<\/strong><br \/>\nLife insurance encourages 'thrift'. It allows long-term savings since payments can be made effortlessly because of the 'easy instalment' facility built into the scheme. (Premium payment for insurance is either monthly, quarterly, half yearly or yearly).<br \/>\nFor example: The Salary Saving Scheme popularly known as SSS, provides a convenient method of paying premium each month by deduction from one's salary.<br \/>\nIn this case the employer directly pays the deducted premium to LIC. The Salary Saving Scheme is ideal for any institution or establishment subject to specified terms and conditions.<br \/>\n<strong>Liquidity:<\/strong><br \/>\nIn case of insurance, it is easy to acquire loans on the sole security of any policy that has acquired loan value. Besides, a life insurance policy is also generally accepted as security, even for a commercial loan.<\/p>\n<p><strong>Tax Relief<\/strong>:<br \/>\nLife Insurance is the best way to enjoy tax deductions on income tax and wealth tax. This is available for amounts paid by way of premium for life insurance subject to income tax rates in force.<br \/>\nAssessees can also avail of provisions in the law for tax relief. In such cases the assured in effect pays a lower premium for insurance than otherwise.<\/p>\n<p><strong>Money When You Need It:<\/strong><br \/>\nA policy that has a suitable insurance plan or a combination of different plans can be effectively used to meet certain monetary needs that may arise from time-to-time.<br \/>\nChildren's education, start-in-life or marriage provision or even periodical needs for cash over a stretch of time can be less stressful with the help of these policies.<br \/>\nAlternatively, policy money can be made available at the time of one's retirement from service and used for any specific purpose, such as, purchase of a house or for other investments. Also, loans are granted to policyholders for house building or for purchase of flats (subject to certain conditions).Who Can Buy A Policy?Any person who has attained majority and is eligible to enter into a valid contract can insure himself\/herself and those in whom he\/she has insurable interest.<\/p>\n<p>Policies can also be taken, subject to certain conditions, on the life of one's spouse or children. While underwriting proposals, certain factors such as the policyholder\u2019s state of health, the proponent's income and other relevant factors are considered by the Corporation.Insurance For WomenPrior to nationalisation (1956), many private insurance companies would offer insurance to female lives with some extra premium or on restrictive conditions. However, after nationalisation of life insurance, the terms under which life insurance is granted to female lives have been reviewed from time-to-time.<\/p>\n<p>At present, women who work and earn an income are treated at par with men. In other cases, a restrictive clause is imposed, only if the age of the female is up to 30 years and if she does not have an income attracting Income Tax.Medical And Non-Medical SchemesLife insurance is normally offered after a medical examination of the life to be assured. However, to facilitate greater spread of insurance and also to avoid inconvenience, LIC has been extending insurance cover without any medical examination, subject to certain conditions.With Profit And Without Profit Plans<br \/>\nAn insurance policy can be 'with' or 'without' profit. In the former, bonuses disclosed, if any, after periodical valuations are allotted to the policy and are payable along with the contracted amount.<\/p>\n<p>In 'without' profit plan the contracted amount is paid without any addition. The premium rate charged for a 'with' profit policy is therefore higher than for a 'without' profit policy.Keyman InsuranceKeyman insurance is taken by a business firm on the life of key employee(s) to protect the firm against financial losses, which may occur due to the premature demise of the Keyman.<\/p>\n<p><em><strong>World Bank ranking for India .Jump from 77 to 63 14 point jump in Ease of Doing Business.<\/strong><\/em><\/p>\n<p><strong>Objectives Of LIC<\/strong><br \/>\n\u00bb Spread Life Insurance widely and in particular to the rural areas and to the socially and economically backward classes with a view to reaching all insurable persons in the country and providing them adequate financial cover against death at a reasonable cost.<br \/>\n\u00bb Maximize mobilization of people's savings by making insurance-linked savings adequately attractive.<br \/>\n\u00bb Bear in mind, in the investment of funds, the primary obligation to its policyholders, whose money it holds in trust, without losing sight of the interest of the community as a whole; the funds to be deployed to the best advantage of the investors as well as the community as a whole, keeping in view national priorities and obligations of attractive return.<br \/>\n\u00bb Conduct business with utmost economy and with the full realization that the moneys belong to the policyholders.<br \/>\n\u00bb Act as trustees of the insured public in their individual and collective capacities.<br \/>\n\u00bb Meet the various life insurance needs of the community that would arise in the changing social and economic environment.<br \/>\n\u00bb Involve all people working in the Corporation to the best of their capability in furthering the interests of the insured public by providing efficient service with courtesy.<br \/>\n\u00bb Promote amongst all agents and employees of the Corporation a sense of participation, pride and job satisfaction through discharge of their duties with dedication towards achievement of Corporate Objective.<\/p>\n<p><strong>Mission \/ Vision<\/strong><br \/>\nMission\"Ensure and enhance the quality of life of people through financial security by providing products and services of aspired attributes with competitive returns, and by rendering resources for economic development.\"Vision\"A trans-nationally competitive financial conglomerate of significance to societies and Pride of India.\"<\/p>\n<p><strong>Board Of Directors<\/strong><br \/>\nMembers On The Board Of The Corporation<br \/>\n\u00bb Shri. M R Kumar, Chairman, LIC of India<br \/>\n\u00bb Shri. T.C. Suseel Kumar, (Managing Director, LIC of India)<br \/>\n\u00bb Shri Vipin Anand Managing Director, LIC of India<br \/>\n\u00bb Shri. Girish Chandra Murmu, Secretary(Expenditure), MOF<br \/>\n\u00bb Shri. Debasish Panda, Additional Secretary, MOF<br \/>\n\u00bb Ms. Padmaja Chunduru, MD &amp; CMD, Indian Bank<br \/>\n\u00bb Shri. Bimalendu Chakrabarti, Non-Official Member<br \/>\n\u00bb Shri. R N Chaturvedi, Non-Official Member<br \/>\n\u00bb Shri R Chandrasekaran, Non-Official Member<\/p>\n<p><strong>Information Technology And LIC<\/strong><br \/>\nLIC has been one of the pioneering organizations in India who introduced the leverage of Information Technology in servicing and in their business. Data pertaining to almost 10 crore policies is being held on computers in LIC. LIC has gone in for relevant and appropriate technology over the years.<\/p>\n<p>1964 saw the introduction of computers in LIC. Unit Record Machines introduced in late 1950\u2019s were phased out in 1980\u2019s and replaced by Microprocessors based computers in Branch and Divisional Offices for Back Office Computerization. Standardization of Hardware and Software commenced in 1990\u2019s. Standard Computer Packages were developed and implemented for Ordinary and Salary Savings Scheme (SSS) Policies.<br \/>\n<strong>FRONT END OPERATIONS<\/strong><\/p>\n<p>With a view to enhancing customer responsiveness and services , in July 1995, LIC started a drive of On Line Service to Policyholders and Agents through Computer. This on line service enabled policyholders to receive immediate policy status report , prompt acceptance of their premium and get Revival Quotation, Loan Quotation on demand. Incorporating change of address can be done on line. Quicker completion of proposals and dispatch of policy documents have become a reality. All our 2048 branches across the country have been covered under front-end operations. Thus all our 100 divisional offices have achieved the distinction of 100% branch computerisation. New payment related Modules pertaining to both ordinary &amp; SSS policies have been added to the Front End Package catering to Loan, Claims and Development Officers\u2019 Appraisal. All these modules help to reduce time-lag and ensure accuracy.<\/p>\n<p>METRO AREA NETWORK: A Metropolitan Area Network, connecting 74 branches in Mumbai was commissioned in November, 1997, enabling policyholders in Mumbai to pay their Premium or get their Status Report, Surrender Value Quotation, Loan Quotation etc. from ANY Branch in the city. The System has been working successfully. More than 10,000 transactions are carried out over this Network on any given working day. Such Networks have been implemented in other cities also.<\/p>\n<p>WIDE AREA NETWORK: All 7 Zonal Offices and all the MAN centres are connected through a Wide Area Network (WAN). This will enable a customer to view his policy data and pay premium from any branch of any MAN city. As at November 2005, LIC had\u00a0 91 centers in India with more than 2035 branches networked under WAN.INTERACTIVE VOICE RESPONSE SYSTEMS (IVRS)IVRS has already been made functional in 59 centers all over the country. This enabled customers to ring up LIC and receive information (e.g. next premium due, Status, Loan Amount, Maturity payment due, Accumulated Bonus etc.) about their policies on the telephone. This information could also be faxed on demand to the customer.<\/p>\n<div class=\"wp-block-pdfemb-pdf-embedder-viewer\"><a href=\"https:\/\/yourcareerheights.com\/wp-content\/uploads\/2019\/10\/Insurancce-Sector-Reforms.pdf\" class=\"pdfemb-viewer\" style=\"\" data-width=\"max\" data-height=\"max\" data-toolbar=\"bottom\" data-toolbar-fixed=\"on\">Insurancce Sector Reforms<\/a><\/div>\n<h3 class=\"clearfix title visitedTracker\">Irdai sets up panel to evaluate application under regulatory sandbox<\/h3>\n<p>Insurance regulator Irdai has set up a committee to evaluate applications filed under the Regulatory Sandbox approach to promote innovative ideas to foster growth in insurance sector.<br \/>\nRegulatory Sandbox (RS) usually refers to live testing of new products or services in a controlled\/test regulatory environment for which regulators may permit certain relaxations for the limited purpose of testing.<br \/>\nWith a view to facilitating innovation, the lnsurance Regulatory and Development Authority of lndia (lRDAl) has adopted a Regulatory Sandbox approach with an objective to recognise innovative ideas to foster growth in the insurance sector, in a way that provides flexibility in dealing with regulatory requirements and at the same time ensuring policyholder protection.<\/p>\n<p>Read more at:<br \/>\n<a href=\"https:\/\/economictimes.indiatimes.com\/articleshow\/71760445.cms?utm_source=contentofinterest&amp;utm_medium=text&amp;utm_campaign=cppst\">\/\/economictimes.indiatimes.com\/articleshow\/71760445.cms?utm_source=contentofinterest&amp;utm_medium=text&amp;utm_campaign=cppst<\/a><\/p>\n<\/div>\n<\/div><\/div><\/div><div id=\"panel-3940-0-1-1\" class=\"so-panel widget widget_sow-editor panel-last-child\" data-index=\"3\" ><div class=\"panel-widget-style panel-widget-style-for-3940-0-1-1\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<h3 style=\"text-align: center;\">LIC ADO 2019: Interview Tips - Study Material<\/h3>\n<p>&nbsp;<\/p>\n<h3 class=\"clearfix title\"><a href=\"http:\/\/yourcareerheights.com\/wp-content\/uploads\/2019\/11\/Insurance-Progress.jpeg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-3950\" src=\"http:\/\/yourcareerheights.com\/wp-content\/uploads\/2019\/11\/Insurance-Progress-300x225.jpeg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/yourcareerheights.com\/wp-content\/uploads\/2019\/11\/Insurance-Progress-300x225.jpeg 300w, https:\/\/yourcareerheights.com\/wp-content\/uploads\/2019\/11\/Insurance-Progress.jpeg 640w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>LIC dominance of India's life insurance market nears three-fourth mark<\/h3>\n<p class=\"title2\">LIC registered a business growth of 18 percent in September against last year, and a very robust 42 percent in the first half of the financial year between April and September, the latest data released by insurance regulators IRDAI showed.<\/p>\n<p>Life Insurance Corporation (LIC) has further increased its dominance in India\u2019s life insurance market with a six percent jump market share between April to September. The insurance giant\u2019s share in the overall pie now stands at 72 percent in a market where several state-run life insurers are increasingly outdoing their private competitors in getting new businesses.<br \/>\nHowever, the ongoing economic slowdown seems to have finally caught up with the insurance sector. Individual Annual Premium Equivalent (APE) declined 3% in September as against the same period last year September as compared to 11-27% year on year growth in April to August 2019.<br \/>\nAPE is a measure used for comparison of life insurance revenue by normalising policy premiums into the equivalent of regular annual payments. The metric is particularly used when the sales contain both single premium and regular premium businesses.<br \/>\n\u201cNew Business Premium (NBP) and total Annualised Premium Equivalent (APE) grew at a slower pace of 9% and 4%, respectively, in Sep\u201919 for private life insurers,\u201d as per a report by ICICINSE -0.17 % Securities. As per the brokerage, SBI Life and Bajaj Allianz were the standout performers of the first half fiscal 2019 while HDFC Life registered faltering numbers in the reported period.<br \/>\n\u201cHDFC Life (HDLI) reported 16% and 20% decline in total and individual APE which would be on account of a high base and possible decline in guaranteed savings products under declining interest rates,\u201d ICICI Security report said. \u201cBajaj Allianz and SBI Life were relative outperformers in September. SBI Life maintained leadership in the number of individual policies which grew 13% compared to 5% for private life insurers.\"<\/p>\n<p>Source: Economic Times<\/p>\n<p>&nbsp;<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><\/div><div id=\"pg-3940-1\"  class=\"panel-grid panel-no-style\" ><div id=\"pgc-3940-1-0\"  class=\"panel-grid-cell\" ><div id=\"panel-3940-1-0-0\" class=\"so-panel widget widget_sow-editor panel-first-child panel-last-child\" data-index=\"4\" ><div class=\"panel-widget-style panel-widget-style-for-3940-1-0-0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t><h3 class=\"widget-title\">Interview Experience of LIC ADO - 2019<\/h3>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<h3>We give below the experience of LIC ADO 2019 on 01.11.2019:<\/h3>\n<p><strong>1 . Mr Aditya Dubey (MEPL)<\/strong> : Date of Interview: 01.11.2019<\/p>\n<p>Sir i was the epicenter of the whole interview.<\/p>\n<p>There were 4members in the panel 3male 1 female<br \/>\nM1 (head\/marketing manager) -<br \/>\nWhat is your name DOB..<br \/>\nYou did engineering, do why this gap and what you did all this time<\/p>\n<p>M2- what do you understand by ado and its job profile<br \/>\nM2- convince me that you are the one we must select<br \/>\nM2- where can you serve in future<br \/>\nM2- aim of my life<br \/>\nM2- what inspired you to be an ado<\/p>\n<p>F- what skills do you posses.<\/p>\n<p>Ok thank you Aditya<\/p>\n<p>This is what happened sir<br \/>\nNo question regarding insurance or my field<\/p>\n<p><strong>2. Interview Experience of one of Participants at Indore.<\/strong> Interview:\u00a0 Centre - Indore (MP)<\/p>\n<p>Date of Interview : 01.11.2019<\/p>\n<p>5 people in interview room, one lady.<br \/>\nAsked about gap years<br \/>\nOther exams if qualified<br \/>\nWhy marketing job after engineering<br \/>\nAsked about major project, engineering branch related topics<br \/>\nAsked about various policies of LIC<br \/>\nTypes of insurance<br \/>\nAsked how your graduation degree can help in this job<br \/>\nHow will you approach prospective agents<br \/>\nDid you visit any LIC office in past and what were the different departments you saw there<br \/>\nAsked about LIC logo<br \/>\nLIC market share<br \/>\nOther life insurance companies<br \/>\nDuration - 15-20 minutes<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><\/div><div id=\"pg-3940-2\"  class=\"panel-grid panel-no-style\" ><div id=\"pgc-3940-2-0\"  class=\"panel-grid-cell\" ><div id=\"panel-3940-2-0-0\" class=\"so-panel widget panel-first-child panel-last-child\" data-index=\"5\" ><div class=\"panel-widget-style panel-widget-style-for-3940-2-0-0\" ><\/div><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>LIC ADO 2019: Interview Tips Life Insurance Corporation has notified LIC ADO Recruitment notice offering an opportunity to the graduates to apply for Government job by qualifying LIC ADO 2019 Exam. Now the Interview shall commence from 4th November 2019. Hence we give below few Interview tips for LIC ADO. LIC is the largest Insurance&hellip;<\/p>\n","protected":false},"author":1,"featured_media":3941,"parent":376,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","meta":{"footnotes":""},"class_list":["post-3940","page","type-page","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=\/wp\/v2\/pages\/3940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3940"}],"version-history":[{"count":5,"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=\/wp\/v2\/pages\/3940\/revisions"}],"predecessor-version":[{"id":3952,"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=\/wp\/v2\/pages\/3940\/revisions\/3952"}],"up":[{"embeddable":true,"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=\/wp\/v2\/pages\/376"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=\/wp\/v2\/media\/3941"}],"wp:attachment":[{"href":"https:\/\/yourcareerheights.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}