PNB announces 6 month grace period for premium payment

Srinagar: PNB Metlife, private life insurer, today said it has settled two claims within 24 hours of receiving the intimation. The claims pertained to Ramban and Ganderbal areas.
The company in a statement issued here said that it has set up dedicated Claim Processing Camps in the Valley with Jammu & Kashmir Bank to support disaster victims.
“In response to the floods in the Valley, Metlife has established these special camps to ensure faster and hassle-free claim settlement. The claim process is much simplified and requires minimal documentation for the customers,” the handout states.
It said that the company has obtained special approval from the regulator to offer 6 month grace period for existing policyholders to pay their premiums.
Quoting MD & CEO, MetLife Tarun Chugh it said: “We express our sincere condolences to the aggrieved families and victims of the floods in Jammu & Kashmir. In this hour of need, we are committed to helping and supporting our customers, employees and the local community.”
To mention, PNB MetLife India Insurance Company Limited (PNB MetLife) is a joint venture between MetLife International Holdings Inc. (MIHI), Punjab National Bank Limited (PNB), Jammu & Kashmir Bank Limited (JKB), M. Pallonji and Company Private Limited and other private investors, with MIHI and PNB being the majority shareholders. PNB MetLife was previously known as MetLife India Insurance Company Limited and has been present in India since 2001.


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