Consumer Commission Orders J&K Bank, PNB MetLife to Pay Claim After Wrongful Premium Refund
A consumer commission has ruled against Jammu and Kashmir Bank and PNB MetLife India Insurance in a case involving a deceased loan borrower. The bank had reversed the loan insurance premium after the borrower's death, effectively denying the family their rightful insurance benefits. The commission found this action to be unfair and ruled in favour of the deceased's family. Both the bank and the insurer were directed to pay the full insurance amount to the family. Additionally, they were ordered to compensate the family for mental distress and legal costs incurred.
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