Excelsior Correspondent
SRINAGAR, May 14: J&K Bank has provided major relief to 170 families by swiftly settling insurance claims worth Rs 8.81 crore under the MetLoan & Life Suraksha (MLLS) scheme in its Jammu Zone.
As per a statement, the claims were paid out to families of deceased borrowers, helping them avoid financial distress.
In a brief ceremony, a symbolic cheque was displayed jointly by J&K Bank’s Zonal Head (Jammu) Rajesh Dubey and PNB MetLife’s Associate Director & Head Irfan Ali Zargar.
Cluster Heads Arjun Singh Rathore and Chandrika Parihar, Zonal Coordinator Karan Dev, Regional Head Ravi Sharma, and Regional Sales Manager Nisar Ahmad Khan were also present.
Thanking the bank and its insurance partner, the beneficiaries said the financial support came as a big relief during difficult times.
“We are grateful to J&K Bank and PNB MetLife for timely help that lifted a huge burden from our shoulders,” one of the claimants said.
Zonal Head Rajesh Dubey highlighted the importance of insuring loans.
“By encouraging customers to opt for MLLS, we help ensure their families are not left with debt in case of any unfortunate event. The single premium, bank-funded option makes it easier for borrowers,” he said.
Irfan Ali Zargar of PNB MetLife added that while money can’t replace a loved one, timely support can ease the financial stress that follows.
“Our partnership with J&K Bank is built on the shared goal of protecting families in times of need,” he said.
The MetLoan & Life Suraksha (MLLS) scheme covers the outstanding loan in case of a borrower’s death, sparing the family from repaying the loan.
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