J&K Bank settles insurance claims worth Rs 1.23 crore

Srinagar, Nov 27: In a significant step to support bereaved families during their time of loss, J&K Bank has swiftly facilitated the settlement of MetLoan & Life Suraksha (MLLS) insurance claims for its deceased borrowers from branches across the Anantnag Zone. A total of Rs 1.23 Crore has been disbursed to 28 families, offering vital financial relief in their time of need.

The Bank’s Zonal Head (Anantnag) Khursheed Muzaffer and Associate Director & Head - Credit Life (JKB Relationship PMLI) Irfan Ali Zargar displayed the Symbolic Cheque of Rs 1.23 Crore - an amount that was handed over to the nominees/legal heirs of the deceased customers - along with the Cluster Head (Anantnag) Layek Jan in presence of Branch Managers and Manager Advances (Anantnag), Zonal Insurance Coordinator Ayman Ali Malik, and PNB MetLife’s Regional Manager Peer Jeelani.

Expressing gratitude to the Bank and its insurance partner PNB MetLife for their timely support, recipients of the claims said, “We are thankful to the Bank for insuring these loans and appreciate the prompt settlement of claims. PNB MetLife’s assistance has been crucial in easing our financial burden during such a difficult time.”

Addressing the gathering, Zonal Head Khursheed Muzaffer emphasized the value of loan insurance in safeguarding families from unforeseen financial stress. “When our customers face hardships, it is our moral and professional duty to ease their burden. By securing loans through MLLS, we protect the financial interests of all the stakeholders involved.”

“To stand with our customers through their thick and thin has been our legacy and we are carrying it forward successfully”, he added.

Reiterating the Bank’s commitment to client well-being, Associate Director & Head - Credit Life (JKB Relationship PMLI) Irfan Ali Zargar highlighted the importance of insurance as a financial shield. “While we cannot replace the emotional loss, we can provide much-needed financial support in such unforeseen events. Settling these claims is part of our promise to the borrowers, and it is fulfilling personally as well as professionally to assist families in their challenging times.”