Srinagar, May 14: Reaffirming its commitment to customer welfare and financial security, J&K Bank has facilitated the swift settlement of insurance claims under the MetLoan & Life Suraksha (MLLS) scheme for deceased borrowers in its Jammu Zone.
The claims worth 8.81 Cr have been paid to 170 families to relieve them of the burden of a severe financial crisis.
In a brief ceremony, the symbolic cheque representing the disbursed amount was jointly displayed by the Bank’s Zonal Head (Jammu) Rajesh Dubey and Associate Director & Head (PNB MetLife) Irfan Ali Zargar. The event was attended by Cluster Heads Arjun Singh Rathore and Chandrika Parihar, Zonal Coordinator Karan Dev along with Regional Head Ravi Sharma and Regional Sales Manager Nisar Ahmad Khan from PNB MetLife.
Expressing satisfaction on the occasion, the claimants thanked the Bank and its Insurance partner MetLife saying, “We are thankful to the Bank for covering these loans under insurance and appreciate their support in timely settlement of the claims. We are also grateful to PNB MetLife for coming to our rescue and relieving us from the difficult burden of growing liabilities.”
Speaking on the occasion, Zonal Head Rajesh Dubey underscored the importance of insuring loans for financial security, which in times of distress offer significant relief to families. He said, “By encouraging our customers to opt for MLLS, we ensure that their families are not burdened with liabilities in unforeseen circumstances. With a single premium and bank-funded option, the product goes a long way in preserving the financial stability of borrowers’ families.”
Echoing the sentiment, PNB MetLife’s Associate Director & Head Irfan Ali Zargar remarked, “While no compensation can replace the loss of a loved one, timely financial assistance can provide critical support to families coping with tragedy. Our partnership with J&K Bank continues to deliver on the promise of protection and care for our mutual customers.”
Notably, MetLoan & Life Suraksha (MLLS) is a life insurance product that covers the outstanding loan amount in the event of borrower’s untimely demise, thereby relieving their family of any financial burden.
