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Loan Linked Insurance
LOAN LINKED INSURANCE
MBBL has contracted with National Life Insurance Company to offer a life insurance product Saral Amrit Life insurance policy to MBBL's clients and their spouses. The product premium depends on the loan amount. Under this policy 25 thousands to half million rupees loan amount will be insured. A letter of request from the nominee of the deceased member to process the insurance claim and recommended by the Group Leader, center Chief then by relevant Branch manager. The assured payout will be received by the MBBL. After adjusting the outstanding loan amount and the interest up to the date of death, the balance amount of the assured payout will be paid to the nominee, according to Bank's policy in the centre meeting.
