Srinagar- In a major relief to bereaved families, J&K Bank recently facilitated the quick settlement of insurance claims under its MetLoan & Life Suraksha (MLLS) product for deceased borrowers in its Srinagar Zone.
Insurance claims amounting to Rs 1.53 Crore were paid to 48 families thereby easing their financial burden during difficult times.
The symbolic cheque representing the disbursed amount was jointly displayed by the Bank’s Zonal Head (Srinagar) Raja Zaffer Khan alongside Associate Director & Head (PNB MetLife) Irfan Ali Zargar in the presence of Cluster Heads (Srinagar I & II) Shabir Ahmad Bulla and Asmat Ara, Credit Head (LCU) Nisar John Tak, AGM Mushtaq Ahmad Bayroo, and other senior officials at the Bank’s Srinagar Zonal Office. The event was also attended by Branch Heads, Advances Managers, Zonal Insurance Coordinator (Srinagar) Manzoor Ahmad and senior representatives from PNB MetLife, including Regional Manager Mudasir Hassan Khanyari and Area Manager Zubair Ahmad Dar.
Expressing gratitude for quick redressal, the claimants appreciated the Bank and its insurance partner PNB MetLife for their timely support. “We are thankful to the Bank for covering these loans under insurance and facilitating the swift settlement of claims. PNB MetLife’s prompt action has relieved us from a significant financial burden,” they said.
Speaking on the occasion, Zonal Head (Srinagar) Raja Zaffer Khan emphasized the importance of insuring loans to secure the financial future of families. “We along with our partners, remain committed to safeguarding the interests of our customers through timely and customer-centric products and services. And by insuring loans with products like MLLS, we are able to reduce the financial burden on borrowers and their families during challenging times.”
While urging the branches to continue to make sure that every claim is settled swiftly in case of death of the borrower, Cluster Heads said, “With a single premium option and the bank funding available, insuring loans goes a long way in reducing the financial burden on families during such difficult times.”
Associate Director & Head (PNB MetLife) Irfan Ali Zargar also advised customers to consider loan insurance for their peace of mind. “While we cannot compensate for the emotional loss, promoting good insurance products can provide much-needed financial support to bereaved families, relieving them from the burden of liabilities in unforeseen circumstances,” he said.
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