Srinagar- In a major relief to the bereaved families, J&K Bank has facilitated timely settlement of insurance claims of twelve deceased borrowers who belonged to the Ladakh zone and had their accounts in different branches of the Bank. The claims worth Rs 1.32 Crores under MetLoan & Life Suraksha (MLLS) were paid to the legal heirs of the deceased customers during last few months.

The Bank’s Zonal Head (Leh) Dorjey Angchuk handed over the symbolic cheques to the nominees and legal heirs of the deceased customers at different branches of Ladakh Zone in presence of Zonal Head (Credit Life – PNB MetLife) Irfan Ali Zargar, Zonal Insurance Coordinator Riffat Shazia, Branch Head (Leh) Tsewang Dorjey other officials of the Bank and PNB MetLife including Regional Manager Showkat Ahmad Lone.

The recipients of cheques described the payment as a great relief for their families during one of worst times of their lives and expressed their profound gratitude to the Bank and its Insurance partner PNB MetLife for ensuring the swift settlement of their claims.

While handing over the cheques, both the Bank officials and representatives of insurance company highlighted the importance of the timely insurance of loans. “With a single-premium option alongside the available bank-funding, borrowers can safeguard their families against such unforeseen eventualities”, said Dorjey Angchuk as he urged the customers to get their loans insured under different schemes available to them.

Referring to the descriptions voiced by the family members of the deceased clients, Irfan Ali Zargar reminded the customers of the goodwill J&K Bank has for its customers. “Being their well-wisher, J&K Bank always counsels its clients to get their loans insured so that their loved ones are taken care of, in case, unpredictable eventualities put difficult financial burden upon them”, he said.


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