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Bid for a slice of the insurance sector pie

Bid for a slice of the insurance sector pie

11 Dec 2019 | 7:48 AM

Have you considered a career in insurance? If you haven’t, then you’re possibly missing out on the opportunity of a lifetime.

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Gauri Chabra

Have you considered a career in insurance? If you haven’t, then you’re possibly missing out on the opportunity of a lifetime. Here’s why. By the year 2020, the insurance industry will need to fill nearly 4,00,000 positions at all 

levels, and in all areas. Actuary, an insurance profession whose practitioners compile and analyse risk, is expected to grow 9 per cent by the year 2024.

Insurance careers span an incredible range of skills and talents — from actuaries and analysts to data scientists and marketers to drone pilots and engineers. Insurance is the backbone of the global economy. Without insurers and the thousands of different professions in insurance, businesses wouldn’t be able to build factories and offices. Concerts, sporting events, the film industry, even universities, libraries, and parks-all are made possible in part by the careful management of risk-and that's what insurance does: It makes great things happen.

Insurance brings to our mind Life Insurance Corporation of India (LIC), which is the largest Life Insurance Company in India having 2048 branches and 109 Divisional Offices. 

Life Insurance Corporation of India has released the recruitment notification for the post of Assistant. It is a golden chance for all government job seekers who have the opportunity to grab these jobs.

Selection process

LIC Assistant selection is done on the basis of two-phase examination i.e. Preliminary Examination (Phase I) and Main Examination (Phase II) followed by Interview. Marks obtained in the Main Examination only will be considered for shortlisting for interview and marks obtained in Main Examination + marks obtained in Interview will be considered for final merit listing of candidates.

Exam Pattern 

LIC Assistant exam will be conducted in two phases: Prelims and Mains.

LIC Assistant Prelims Exam: LIC Assistant prelim exam will be of 100 marks. There will 100 questions from Reasoning Ability, Numerical Ability, and English language/Hindi language. 

The written exam will contain 3 sections namely: Reasoning, English/ Hindi, Quantitative Aptitude. The total duration of the written exam will be 1 hour or 60 minutes. There will be negative marking and 0.25 mark will be deducted for every wrong answer. 

LIC AAO exam pattern for Mains: LIC AAO Exam Mains is scheduled to be held on December 22, 2019. The exam pattern for this is different for the different posts of AAO (Generalist/IT/Chartered Accountant/Actuarial/Rajbhasha). 

For all these posts, the main exam has both objective and descriptive sections and both are conducted in the online mode.

The descriptive test will be conducted immediately after the objective exam. 

The sections of the main exam, too, are timed separately.

The descriptive test, for all posts, is qualifying in nature. This means the marks secured by the candidates in the descriptive test will not be considered for compiling the final merit list.

Personal Interview

Candidates qualifying in the online test will be called for personal interview round. 

Usually, the number of candidates called for this round is three times the number of vacancies available for the post of LIC AAO in various branches of the organisation across the country. 

The Interview is conducted for 30 marks. For SC/ST candidates, the qualifying marks are 27, while for candidates belonging to other categories, the minimum qualifying marks are 30.

Final selection

The final selection is made based on the marks secured by the candidates in the Main exam and Personal Interview. In the case of two or more candidates securing the same aggregate marks, the candidate with the higher educational qualifications is given preference. In case of a tie again, the candidate older in age will be given preference.

Selected candidates will first have to undergo a pre-recruitment medical examination as well as document verification. If they are found medically fit and their documents are in order, then they will be appointed as Assistant Administrative Officers (AAOs).

Therefore, gear up for the 'hard sell' and ensure a lucrative and prestigious career for yourself.


The field

Working in insurance or one of the many related fields offers opportunities that extend far beyond the bottom line on your paystub, or the walls of your workplace. Whether you’re interested in serving your community, or experiencing different cultures around the world, or choosing a career path that offers real opportunities to grow and learn every day, a career in insurance can help bring your goals and dreams within reach. 


Sample questions:(Prelims)

Direction (1-5): 

Study the arrangement carefully to answer these questions.

1. There are 6 persons sitting in a row facing south. Each of them speaks different languages — Hindi, Spanish, French, English, Chinese & Arabic, but not necessarily in the same order. The person speaking Hindi is sitting 2nd to the right of the person speaking French but is not at the end. The Spanish speaker is sitting at the extreme end, but not adjacent to the Hindi speaker. The person speaking English is sitting adjacent to the person speaking Hindi but not adjacent to the French speaker. The Chinese speaker is 3rd to the left of the Arabic speaker, who is sitting at one of the ends.

1. Which pair of speakers among the following are sitting at the extreme ends?

A. English- Spanish B. Spanish- Chinese

C. Arabic- Spanish D. Spanish- French

E. None of the above

2. What is the position of the Hindi speaker with respect to the Chinese speaker?

A. Immediate left B. Immediate right

C.  3rd to the left D. 2nd to the right

E. None of the above

3. If all the speakers sit according to the languages as they will appear in the dictionary, from right to left, how many speakers will not change their seats?

A. 1 B. 2 C. 3 D.4 E. None

   

4. If the speakers exchanged the seats in the following manner: Arabic with Chinese, English with French, Hindi with Spanish & Spanish at the last with English, which among the following is the correct combination of the speaker and the position of the seat?

A. Chinese speaker is 2nd to the right of the English speaker.

B. Arabic speaker is the immediate left of the English speaker.

C. Hindi speaker is at the extreme left.

D. English speaker is sitting 3rd from the right end.

E. All of the above.

5. From the following pairs find the odd one out.

A. Hindi- Chinese B. English- Arabic

C. French- Spanish D. Chinese- French

E. English- Chinese

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