Life Insurance Corporation of India Salaries in Mumbai (Updated 2025)

Likes

Good company in terms of the pay and benefits, but at a heavy price.

Dislikes

All the rules and restrictions/punishment are imposed only on class 2 officers of the organisation. Targets are imposed only on development officers.

Likes

1. I was a probationary development officer in LIC for 1 year 3 months. Management is the most terrible one in LIC corporation. Since it's a Central government institution but works like private company. We are getting into job after 2 c'mon eligibility exams and interview. They will make you blind by exaggerating the profile of job and the perks you can avail. After the joining then they will show their true colour. They will call for review meeting. Since we are in marketing. They will analyse your monthly performance. The team consisting of SDM, ( senior division manager) MM ( marketing manager ) MS ( marketing sales) will screw you. Then at the branch level SBM ( senior branch manager) or CM( cheif manager) got the steering of firing. Somehow ABMS( assistant branch managers ) they are the main targets of senior management. They will fire them in the name of probationary officers like us. Working : Since development officers are class 2 employees ( only Development employees ) are there in that class. Development officer didn't have any job guarantee since its target based job. We need to give them 5-6 times what we earn in a year. Eg. If we earn 5 lakhs per year. Target of that development officer will be 5*5 = 25 laksh or 5*6 = 30 lakhs ( depending on rural and urban area respectively). So our job is to give LIC agency to new people and make them work so that our target could be completed per year. roughly we need to recurit 30 - 40 agents. So that they can get you that taget. Ie, 25 or 30 lakhs. If you have 20 agents out of that 4 person can get huge policy like jeevan shiromani - yearly 8 lakhs premium so you can get 32 lakhs premium. Normal case it won't work since you are a fresher. They people from agent category will work well since the Development officer is the main agent. So they know how to work and they have already got huge networking. So if can achieve that taget then you can proceed otherwise you have to invest a huge amount.

Dislikes

...overnment has directed not to terminate any employee in the corona pandemic. 3. They will hold our salary without any reason if we try to stick on to that job. They even hold back the arrears to probationary officers. Iconically it's is owned by government. 4. They will came to development officers home if they didn't completed the target and be a headache to them also.

Likes

...tings per day and even to complete the collections work whtever was given to me. And the company policy was if i was not completing my target my boss use to deduct my salary.

Dislikes

I only disliked the deduction of the salary.

Likes

Good bonus Good incentives Respect given by whole team of LIC Good guidance and counselling and training sessions at LIC office

Dislikes

There is a heavy workload of getting policies and sales which is very tough to get popicies on dailg basis to achieve target.

Likes

Job Performing Flexibility.

Dislikes

...e Teams. 2. Other benefits, which are not upto the standards or satisfaction. 3. No Festival bonuses/ annual bonuses. 4. No Family bonus 5. No clarity about Pension