In a significant relief initiative, J&K Bank has facilitated the swift settlement of Met Loan & Life Suraksha (MLLS) insurance claims for its deceased borrowers.
The claims, amounting to Rs 7.52 Cr, have been disbursed to 168 families belonging to Jammu zone, alleviating their financial burden during a time of grief.
A symbolic cheque for Rs 7.52 Cr, representing the total amount handed over to the nominees and legal heirs of the deceased customers, was displayed by the Bank’s Cluster Heads (Jammu), Suresh Chowdhury and Aneeta Nehru alongside Zonal Head (Credit Life – PNB Met Life) Irfan Ali Zargar. The event was also attended by senior officials of Bank and its Insurance partner.
Expressing their gratitude, the claimants thanked J&K Bank and its insurance partner, PNB Met Life, for their prompt action and support. One of the claimants stated, “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 Met Life for coming to our rescue and relieving us from the difficult burden of growing liabilities.”
Reiterating the Bank’s commitment to provide comprehensive financial solutions that ensure the security and well-being of its customers and their families, both the cluster heads emphasized the importance of loan insurance.
Cluster Head -1 (Jammu) Suresh Chowdhury said, “With a single-premium option along with the bank funding available for the customers, we are able to safeguard the families of borrowers and the interests of our institution in case of such unforeseen eventualities.”, while as Cluster Head-2 (Jammu) Aneeta Nehru added, “We have always been counseling our borrowers to get their loans insured for the future well-being of their own families.”
While reminding the customers of the goodwill of J&K Bank, Zonal Head (Credit Life – PNB Met Life) Irfan Ali Zargar said, “We can never compensate the emotional loss of life, but by promoting good insurance products we can always support the bereaved families and relieve them of the huge financial burden in case of such eventualities.”
