Quick settlement of insurance claims brings relief to the families of J&K Bank customers

  • Srinagar
  • 09 May 2024

In a major relief to the bereaved families, J&K Bank facilitated the swift settlement of MetLoan & Life Suraksha (MLLS) insurance claims of its deceased borrowers who had their accounts in different branches of the Bank’s Rajouri Zone. The claims worth Rs 3.82 Crores have been paid to 77 families thereby relieving them of the burden of severe financial crisis.

The Bank’s Zonal Head (Rajouri) Satish Kumar and Zonal Head (Credit Life - PNB MetLife) Irfan Ali Zargar displayed the symbolic cheque of Rs 3.82 Cr - an amount that was handed over to the nominees/legal heirs of the deceased customers - in presence of Cluster Head (Poonch) Aneet Kanwal Singh Bagee, In charge Advances (Rajouri) Rajeev Digra, Zonal Insurance Coordinator Mohd Rafiq, Heads of respective branches and other senior officials of the Bank and PNB MetLife including  Regional Manager Nisar Ahmad Khan and Ravi Sharma.

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, both the officials from the Bank and the insurance company highlighted the significance of getting the loans insured. “With a single-premium option alongside the bank funding available for the customers, we can safeguard the families of borrowers and the interests of our institution in case of such unforeseen eventualities”, said Zonal Head (Rajouri) Satish Kumar adding, “We have always been counselling our borrowers to get their loans insured for the future wellbeing of their own families.”

While reminding the customers of the goodwill of J&K Bank, Zonal Head (Credit Life - PNB MetLife) said that the Bank advises its clients to get their loans insured so that their loved ones are taken care of in case of such unseen contingencies. “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”, he added.