J&K Bank Settles Insurance Claims Worth Rs 4.69 Crores

8/20/2024 12:13:02 AM

(MENAFN- Kashmir Observer) Srinagar- In a major relief to bereaved families during their time of loss, J&K bank has facilitated the swift settlement of MetLoan & Life Suraksha (MLLS) insurance claims for its deceased borrowers from various branches in the Srinagar Zone. The claims, amounting to Rs 4.69 Cr, have been paid to 109 families, alleviating their financial burdens during a difficult time.

The symbolic cheque of Rs 4.69 Cr – an amount that was handed over to the nominees/legal heirs of the deceased – was displayed by the Bank's Zonal Head (Srinagar) Raja Zaffer Khan, along with channel Head (Credit Life – PNB MetLife) Irfan Ali Zargar along with Cluster Heads Shabir Ahmad Bulla and Asmat Ara in presence of AGM Mushtaq Ahmad Bayroo, Marketing Head (Kashmir) Tajamul Ahmad Qadri and other senior officials of the Bank and PNB MetLife, including Regional Manager Mudasir Hassan Khanyari and Area Manager Shahid Hamid Shah.

The recipients of the claims expressed their gratitude towards J&K Bank and its insurance partner, PNB MetLife, for their prompt support.“We are thankful to the Bank for insuring these loans and greatly appreciate the timely settlement of claims. PNB MetLife's assistance has been crucial in lifting the heavy financial burden during this difficult time,” said one of the claimants.

On this occasion, Zonal Head (Srinagar) Raja Zaffer Khan emphasized the importance of loan insurance, particularly in mitigating financial stress for families during challenging times.“When customers face hardships, it is our duty to ease their burden. By securing loans through
MLLS, we safeguard the financial interests of all stakeholders involved.”

Channel Head Irfan Ali Zargar reiterated that the Bank always advises its clients to get their loans insured so that their loved ones are taken care of in case of such unseen contingencies.“While we cannot replace the emotional loss, we can provide financial relief during such unforeseen events. Settling these claims is not just fulfilling our promise to the borrowers but also brings us a sense of fulfilment in helping families through challenging times.”

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