Jammu and Kashmir Bank has demonstrated its commitment to customer welfare and financial security by facilitating the swift settlement of insurance claims under the MetLoan & Life Suraksha (MLLS) scheme. The bank has paid out claims worth 8.81 crores to 170 families in its Jammu Zone, providing them with much-needed financial relief during a difficult time. The MLLS scheme is a life insurance product that covers the outstanding loan amount in the event of a borrower’s untimely demise, thereby relieving their family of any financial burden.
The claims were paid out in a brief ceremony, where a symbolic cheque was displayed by the bank’s Zonal Head, Rajesh Dubey, and Associate Director and Head of PNB MetLife, Irfan Ali Zargar. The event was attended by various bank officials and representatives from PNB MetLife. The claimants expressed their gratitude to the bank and PNB MetLife for their support in settling the claims in a timely manner, stating that it has helped to relieve them of a significant financial burden.
Rajesh Dubey, Zonal Head of Jammu and Kashmir Bank, emphasized the importance of insuring loans for financial security, particularly in times of distress. He noted that the MLLS scheme provides significant relief to families and helps to preserve their financial stability. Irfan Ali Zargar, Associate Director and Head of PNB MetLife, also highlighted the importance of timely financial assistance in supporting families coping with tragedy.
The partnership between Jammu and Kashmir Bank and PNB MetLife has been instrumental in delivering on the promise of protection and care for their mutual customers. The MLLS scheme is a single-premium and bank-funded option that provides financial security to borrowers and their families. By encouraging customers to opt for this scheme, the bank ensures that families are not burdened with liabilities in unforeseen circumstances.
Overall, the settlement of insurance claims under the MLLS scheme is a significant step towards providing financial relief to families in need. It demonstrates the bank’s commitment to customer welfare and financial security, and highlights the importance of insurance products in providing a safety net for borrowers and their families.