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Timely settlement of claims brings relief to families of J&K Bank customers

May 14, 2024

SRINAGAR: With a view to alleviate the financial distress of affected families, J&K Bank has facilitated the prompt settlement of MetLoan & Life Suraksha (MLLS) insurance claims for its deceased borrowers in various branches of the Bank’s Doda Zone. 

A total of 58 families received an amount of Rs 2.31 Crores in the form of cheques, marking a significant step towards easing their severe financial crises during these challenging times.

The Bank’s Zonal Head (Doda) Fayaz Ahmad Bhat and Zonal Head (Credit Life – PNB MetLife) Irfan Ali Zargar displayed the symbolic cheque of Rs 2.31 Cr – an amount that was handed over to the nominees/legal heirs of the deceased customers – in presence of senior officials of bank and pnb MetLife’

Expressing gratitude, the beneficiaries commended both J&K Bank and PNB MetLife for their timely support in settling the insurance claims. They acknowledged the significance of loan insurance in safeguarding their families’ financial stability, emphasizing the vital role played by J&K Bank in advocating for such protective measures.

Highlighting the importance of loan insurance, Zonal Head (Doda) Fayaz Ahmad Bhat reiterated the Bank’s commitment to providing comprehensive financial solutions that prioritize the welfare of its customers. He said, “As a trusted financial institution, J&K Bank remains steadfast in its mission to empower its customers and provide essential support during times of need. Through the swift settlement of these insurance claims, the Bank reaffirms its promise to serve its customers in a way that helps in strengthening their financial conditions.”

While underscoring the collaborative efforts between the Bank and its insurance partners to ensure the well-being of customers and their families, Zonal Head (Credit Life – PNB MetLife) emphasized the inherent value of insurance products in mitigating the financial impact of unforeseen circumstances.

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