Jammu and Kashmir Bank has provided relief to 48 families in the Srinagar zone by quickly settling insurance claims under its MetLoan & Life Suraksha (MLLS) product for deceased borrowers. The claims totalled Rs 1.53 crore, which has eased the financial burden on the families. The bank facilitated the settlement of claims in association with PNB MetLife, its insurance partner.
The bank’s Zonal Head, Raja Zaffer Khan, emphasized the importance of insuring loans to secure the financial future of families. He stated that the bank and its partners are committed to safeguarding the interests of customers through timely and customer-centric products and services. The cluster heads urged the branches to ensure that every claim is settled swiftly in case of the death of a borrower, and advised customers to consider loan insurance for peace of mind.
The event was attended by senior officials from the bank and PNB MetLife, including Branch Heads, Advances Managers, and Zonal Insurance Coordinator. The claimants appreciated the bank and PNB MetLife for their timely support, stating that they are thankful for the coverage and swift settlement of claims. PNB MetLife’s Regional Manager, Mudasir Hassan Khanyari, and Area Manager, Zubair Ahmad Dar, were also present at the event.
The insurance claims were facilitated through the bank’s MLLS product, which provides life insurance coverage to borrowers. The product offers a single premium option and bank-funded insurance, making it easier for customers to avail of the benefit. The settlement of claims is a testament to the bank’s commitment to its customers and its partnership with PNB MetLife.