SRINAGAR: Jammu and Kashmir Bank has facilitated the settlement of life insurance claims worth Rs 2.55 crore in favour of the legal heirs of a deceased High Net Worth Individual (HNI) customer of its Residency Road branch in Srinagar.
The settlement, covering multiple insurance policies, provides financial support to the bereaved family and underscores the role of life insurance in protecting dependents from financial uncertainty following the death of a policyholder.
At a function held to mark the settlement, J&K Bank Zonal Head, Srinagar, Sheikh Mohammad Muzaffar, along with PNB MetLife Associate Director and Relationship Head Irfan Ali Zargar, handed over a symbolic claim-settlement cheque to Residency Road Branch Head Tajamul Qadri.
The function was attended by Project Head Sheikh Yasir Arafat, Regional Manager Sajid Ali Khan and Zonal Insurance Coordinator Tahseena.
Muzaffar said the settlement demonstrated the importance of insurance protection during times of adversity and urged customers to periodically review their insurance requirements.
“While no financial compensation can make up for the loss of a loved one, adequate insurance protection can help a family retain financial stability and face the future with greater confidence,” he said.
He added that customers should assess their protection needs and opt for suitable insurance solutions to secure the long-term financial interests of their families.
Irfan Ali Zargar said the settlement reflected the trust customers placed in the bank and its insurance partner.
“Insurance is not just about financial protection; it is about keeping promises to our customers and their families,” he said, adding that the institution remained committed to supporting families when they faced unexpected financial challenges.
The settlement also highlighted the partnership between J&K Bank and PNB MetLife in providing insurance products and facilitating claims for customers.:::
