Excelsior Correspondent
SRINAGAR, Jan 8: Continuing its statewide launch, J&K Bank and Metlife launched Credit
Protection Plans – MetLoan and Life Suraksha in Srinagar today.
Directors at MetLife India, Sameer Bansal and Sanjay Vij and J&K Bank’s Executive presidents, Parvez Ahmad and Abdul Hamid Banday, jointly launched this innovative credit linked Bancassurance package at a simple but impressive function here today.
MetLoan and Life Suraksha is a financial protection plan to the family members of the borrower in case of his or her demise. It covers borrowers availing Housing Loans, Education Loans, Car Loans and Personal Consumption Loans. It covers sanctioned loan amount or outstanding balance so that the family of the borrower does not have to bear the burden of a loan, in case of unexpected events.
Speaking on the occasion Sameer Bansal, Director Bancassurance MetLife India in his address described the product launch as yet another milestone in the 14 year old partnership of MetLife with J&K Bank. He thanked J&K Bank management for providing MetLife an opportunity to serve the people of J&K in a big way.
Parvez Ahmad in his address said, “J&K Bank is an institution that identifies itself with its customers and operates on the agenda of customer convenience and social relevance.”
“We have launched this proposition in line with our agenda of Customer Centricity and promoting need-based products only. While it is not compulsory for our customers to buy the life insurance products offered by MetLife to secure their loans, we would recommend the same to protect their family from any unforeseen financial liability arising out of an unexpected death of the borrower,” he said.
AH Banday while speaking on the occasion said that the beauty of the product lies in providing age cover up to 70 years. “It is a wonderful product that even covers suicide, a rare feature for an insurance product to come up with”, he emphasized.
The dignitaries also presented “Star Performers of the night” awards to officers of the Bank who have put up an outstanding performance during the calendar year 2014.
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