NCC Bank, Meghna life sign deal to insure home loan borrowers
NCC Bank PLC and Meghna Life Insurance Company Ltd have signed an MoU to provide life insurance coverage to NCC Bank's home loan customers.
Under the agreement, all regular home loan borrowers of NCC Bank will be automatically covered under life insurance provided by Meghna Life Insurance. The key benefit is that, if a borrower dies unexpectedly, their family will not be required to repay the outstanding loan, helping protect them from financial hardship.
The agreement was signed at NCC Bank's head office by senior officials from both NCC Bank and Meghna Life Insurance, including deputy managing directors from each institution. Top management, such as the managing director of NCC Bank and the vice chairman of Meghna Life, were also present.
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Other senior officials from both organisations were also in attendance.
M Shamsul Arefin said the initiative would ensure financial protection for borrowers and their families and called the MoU "a significant step to mitigate risk through banking and insurance collaboration."
