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| Timely Settlement of Insurance Claim Brings Relief to J&K Bank Customer’s Family | | |  Early Times Report
Srinagar, May 19: The family of Late Bashir Ahmad Kuchhay, a valued customer of J&K Bank’s Surasyar Branch in Budgam, expressed their gratitude as the insurance claim under the Met Loan and Life Suraksha (MLLS) scheme was promptly settled. PNB-MetLife, J&K Bank’s Life Insurance Partner, presented a symbolic cheque of Rs 32 Lacs to Naseema, the legal heir of the deceased.
The insurance claim amount was disbursed partly to the deceased’s loan account, while the remaining sum was transferred to the nominee’s savings account in accordance with the Level Cover Option of the policy.
During the ceremony, Zonal Head (Budgam) Saadut Hussain Pampori handed over the cheque to Naseema Bano in the presence of Zonal Insurance Coordinator Sajad Ahmad Farooqi, Zonal Head (Credit Life) PNB MetLife Irfan Ali Zargar, and other officials from the bank and insurance agency.
Expressing her gratitude, Naseema Bano said, ‘We consider ourselves fortunate to have had this insurance policy, and the timely settlement has alleviated a significant financial burden.’
Addressing the gathering, the Zonal Head highlighted the bank’s commitment to the economic well-being of its customers and emphasized the importance of insuring loans to mitigate unforeseen circumstances and prevent financial hardships for their loved ones.
‘While we cannot compensate for the loss of a life, we can help alleviate the financial burden on the bereaved family by compensating for the earning capacity of the deceased family member to a great extent.
We also urge our insurance partners to ensure prompt and hassle-free settlement of insurance claims for all our customers, thus safeguarding the financial security and welfare of their family members,’ he stated.
It is worth noting that the deceased customer had opted for an insurance cover for his loan under PNB-MetLife’s Met Loan and Life Suraksha (MLLS) scheme with the Level Cover option, wherein the sum assured is the chosen amount linked to the credit at the policy’s inception.” |
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