Law: Insurance Ordinance, 2000

Section: 122

Insurance Ordinance (XXXIX of 2000)--- ----S. 122---Insurance claim---Scope---Insurance Company approached a medical college to provide coverage for the annual fees of students---Along with the Group Family Takaful coverage plan, it was a condition precedent that students also purchase the Salamati Plan, whereby the company provided life coverage to the students---Petitioner, through her father, deposited the first premium for both policies---Later, her father died and the petitioner approached the Insurance Tribunal after her insurance claim was not taken note of---Argument of the insurance company was that the father of the petitioner had failed to pay the second premium within the stipulated time, causing the policy to lapse---Validity---Process of the two policies was completed when the consideration of the contract was paid and accepted by the insurance company---Both policies were silent about the date of premium payment, whereas the Salamati Plan document bore the date of premium payment as the 25th of February each year---First premium was paid against a receipt on 18-2-2020, indicating that the period was to be started from that date until 25-2-2021---Contract had to be construed and interpreted objectively---Father of the petitioner had died on 21-3-2021 within the grace period of 25-2-2021 to 25-3-2021, making the insurance company responsible, according to the terms of the policy documents, for paying the annual fee of the petitioners MBBS (four-year) program---Petition was allowed. Muhammad Shahnawaz and 44 others v. Karachi Electric Supply Company and others 2011 PLC (C.S.) 1579 and Universal Insurance Company and another v. Karim Gul and another PLD 2021 SC 906 rel. JUDGMENT JUSTICE (R) ALI AKBAR QURESHI, CHAIRMAN.---The petitioner, who is studying in the medical college namely, Independent Medical College/University Faisalabad, being MBBS 2nd year Student, having Roll No.035 for the sessions 2020 to 2024, instituted this insurance petition contending therein, that the respondents Nos.1 and 2 with the collaboration of respondent No.3 decided to offer an insurance plan namely, Group Family Takaful Plan for four years to cover the educational…

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