NIACL Salary

Salary Structure- As per the notification released by NIACL, the candidates posted as Assistant are eligible for the pay scale of -
Rs, 14435-840(1)-15275-915(2)-17105-1030(5)-22255-1195(2)-24645-1455(3)-29010-1510(2)-32030-1610(5)-40080.  

• In the initial stages, an Assistant in NIACL would earn in hand salary of approximately Rs. 23,500/- in a metro city.
• There are a lot of other allowances such as newspaper allowance, leave encashment etc.

Increments - The best thing about insurance companies is that they provide you ample opportunity for internal promotions to officer scale in a transparent manner. There are increments for clearing the exams.

• There are 3 levels to be cleared- Licentiate, Associate and Fellowship.
• Every level has an increment attached to it. After completion of Fellowship, an increment of Rs 1550/- is applicable.
• Similarly, there are allowances depending on the position you hold in the office but its not for everyone. For example, if you are a cashier in the office, then you would get Rs 1500/- per month.

Other Benefits -  

• Assistants will also get accommodation benefit for Assistant but only in major cities. 
• NIACL Assitant gets a good number of leaves which are Casual Leaves, Sick Leaves, Earned Leaves, Blood donation leaves etc. and Saturday- Sunday off. 
• NIACL Assistant job profile offers a 5-day job with less workload. Overall, NIACL assistant is a good job profile to lead a decent and peaceful life with no pressure from your boss/company.

As a NIACL Assistant, one may be responsible to undertake various data entry processes initially.  A NIACL Assistant is responsible for assisting the Administrative Officers of each section. There are 3 major tasks involved in different departments of NIACL. These are -

1. Underwriting
2. Claims 
3. Accounts

Underwriting - It is a data entry process. This involves the following work -

• Acceptance of proposals, signing/ issuing policies 
• Use computers to enter, access and retrieve financial data
• Write business correspondence
• Gather relevant financial data

Claims -This involves all the legal and non-legal aspects of claims of customers and their settlement and following work -

• Apply insurance rating systems
• Calculate the amount of claim
• Contact insured or other involved persons to obtain missing information
• Organize and work with detailed office or warehouse records, using computers to enter, access, search and retrieve data
• Post or attach information to claim file
• Prepare and review insurance-claim forms and related documents for completeness
• Provide customer services, such as giving limited instructions on how to proceed with claims or providing referrals to auto repair facilities or local contractors
• Review insurance policy to determine coverage
• Transmit claims for payment or further investigation

Accounts - This involves payments, preparation of balance sheets, accounting transactions etc.

We hope that the article has resolved your queries regarding Job Profile and salary of NIACL Assistant. In case of any further query, you can comment below!

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