Bank refunded insurance premium after borrower's death, denied claim; family gets relief
A consumer commission ruled against Jammu and Kashmir Bank and PNB MetLife India Insurance. The bank reversed a loan insurance premium after the borrower's death
A consumer commission ruled against Jammu and Kashmir Bank and PNB MetLife India Insurance. The bank reversed a loan insurance premium after the borrower's death.
This action denied benefits to the deceased's family, which was deemed unfair. The commission ordered the bank and insurer to pay the insurance amount. They
were also directed to compensate the family for mental agony and costs.
The BriefWire