Mangaluru, July 20, 2017: Karnataka Bank in association with its life insurance partner M/s PNB MetLife, today, announced the launch of ‘Met Loan & Life Suraksha’ (MLLS), a single premium plan covering the loan liability of a customer. In the year of celebrating 15 years of its partnership with M/s PNB MetLife, Bank also introduced ‘KBL MLLS’ app exclusively for the KBL employees to instantly calculate the insurance cover and premium based on loan liability of their borrowers.
The loan product and mobile app was unveiled by Mr. Mahabaleshwara M.S., Managing Director & CEO, Karnataka Bank and Mr. Sameer Bansal, Director, Bancassurance, PNB MetLife in a function in Mangaluru in the presence of Mr. Raghavendra Bhat M., Chief General Manager of the Bank. Shri Chandrashekar Rao B., Shri Subhaschandra Puranik, Balachandra Y.V., Muralidhar Krishna Rao, Nagaraja Rao B., General Managers were present on behalf of the Bank; Mr. Sai Chandra Sekhar Reddy, Associate Director, M/s PNB MetLife was also present on the occasion.
Speaking at the launch, Mr. Mahabaleshwara MS, MD & CEO, Karnataka Bank, said, “We have had a successful partnership with MetLife for last 15 years and are excited about the launch of MLLS single premium plan today. It will help us in our endeavour to extend a holistic suite of loan protection products with flexibility in premium payments. I would urge all our customers to protect their loans with MLLS, providing peace of mind to their family members against loan liabilities.”
Mr. Sameer Bansal, Director Bancassurance, PNB MetLife said, “At PNB MetLife, we have always designed our products keeping in mind the evolving needs of our customers and partners. We have grown from strength to strength over the last 15 years of partnership with Karnataka Bank and have secured close to 2 lakh lives together. MLLS seeks to provide financial stability to the borrower’s family in unexpected circumstances.”
The new product is made available across all the 769 branches of the Bank for its borrower clients.