J&K Bank Swiftly Settles Insurance Claims Worth Rs 3.13 Cr For 40 Bereaved Families

SRINAGAR: In a major relief to bereaved families, J&K Bank has facilitated the swift settlement of MetLoan & Life Suraksha (MLLS) insurance claims for its deceased borrowers from various branches in the Budgam Zone. The claims, amounting to Rs 3.13 crore, have been paid to almost 40 families, alleviating their financial burdens during a difficult time.

The symbolic cheque of Rs 3.13 crore – an amount that was handed over to the nominees/legal heirs of the deceased – was displayed by the Bank’s Zonal Head (Budgam) Fayaz Ahmad Bhat and Channel Head (Credit Life – PNB MetLife) Irfan Ali Zargar along with Cluster Heads Javid Rashid Shah and Masood Ahmad Lanker in presence of the concerned Branch Heads and other senior officials of the bank and PNB MetLife, the J&K Bank said in a press release.

Expressing gratitude on the occasion, the claimants said, “We are thankful to the bank for covering these loans under insurance and appreciate their support in the timely settlement of the claims. We are also grateful to PNB MetLife for coming to our rescue and relieving us from the difficult burden of growing liabilities.”

Speaking on the occasion, Zonal Head (Budgam) Fayaz Ahmad Bhat highlighted the need and significance of getting loans insured. He said, “As a trusted financial institution, J&K Bank remains committed to providing comprehensive financial solutions that prioritize the welfare of its customers. Through initiatives like the swift settlement of insurance claims, the bank reaffirms its promise to serve its customers in a way that helps in strengthening their financial conditions.”

Channel Head (Credit Life – PNB MetLife) Irfan Ali Zargar reminded customers of J&K Bank’s commitment to their well-being, advising them to insure their loans. “While we cannot compensate for the emotional loss, promoting good insurance products can support bereaved families and relieve them of financial burdens in such eventualities,” he said.