Srinagar, Jan 11 (KNS): In a significant relief to bereaved families, J&K Bank facilitated the swift settlement of insurance claims under the MetLoan & Life Suraksha (MLLS) product for its deceased borrowers. A total of Rs 1.65 Crores was disbursed to the nominees of around 35 affected families whose accounts were maintained across various branches of the Bank’s Budgam Zone.
The symbolic cheque representing the disbursed amount was jointly displayed by the Bank’s Zonal Head (Budgam) Fayaz Ahmad Bhat and Associate Director & Head (PMLI) Irfan Ali Zargar in presence of Cluster Head (Ganderbal) Javid Rashid Shah, Cluster Head (Budgam) Masood Ahmad Lanker, Branch Managers and Manager Advances from Budgam, Zonal Insurance Coordinator Sajad Ahmad Farooqi, and senior officials from both the Bank and PNB MetLife’s Regional Manager Mudasir Hassan Khanyari and Area Manager Younis Ahmad Bazaz.
Speaking on the occasion, Zonal Head Fayaz Ahmad Bhat emphasized the importance of insuring loans for the protection of both borrowers and their families.Click Here To Follow Our WhatsApp Channel“This initiative highlights our commitment to safeguarding the interests of our customers and the Bank. Insuring loans reduces the financial burden on families during challenging times. By opting for MLLS with a single premium funded through the loan, customers can secure the future of their families from unforeseen difficulties.”
The claimants expressed gratitude for the timely intervention and support. “We are thankful to J&K Bank for covering these loans under insurance and ensuring the swift settlement of claims. We also appreciate PNB MetLife for their assistance during this difficult period,” one of the claimants said.
Adding to this, Associate Director Irfan Ali Zargar remarked, “While we cannot replace the emotional void left by the loss of a loved one, we can provide financial relief to the bereaved families. By promoting robust insurance products like MLLS, we can help reduce the financial burden on families during such unforeseen circumstances.”(KNS)