What is LIC AAO guarantee bond?
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1 Answer
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Before joining as a LIC AAO, candidates are required to give a Guarantee Bond, which is an undertaking to serve the LIC for a minimum four years period from the date of joining (including the probation). If a candidate fails to serve the LIC for four years, he/she or his /her heirs, executors, administrators will be liable to pay liquidated damages of INR 5 Lakhs + GST or the sum of amount the Executive Director (Personnel) may prescribe from time to time.
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