Law: Insurance Ordinance, 2000

Section: 72

(a) Insurance Ordinance (XXXIX of 2000)--- ----S. 72---Nomination by policy holder---Scope---Section 72 of the Insurance Ordinance, 2000, authorizes and empowers the policy holder to nominate the person or persons to whom the money secured by the policy shall be paid in the event of the policy holders death---However, this provision of the law does not exclude the legal heirs from inheriting the assets, including the policy proceeds, of the deceased in accordance with the principles of Islamic Law---Constitution guarantees that no law can be made which is contrary to the Injunctions of the Quran and Sunnah, which stipulate that the legal heirs of a deceased Muslim will inherit their assets according to the principles of Islamic Law---Nominee is only supposed to collect the policy proceeds and disburse them among the legal heirs---Furthermore, the nominee must not exclude or deprive the legal heirs of the fruits of the policy. PLD 1991 SC 731 distinguished. Mst. Ameer Khatoon v. Mst. Shamim Akhtar and others 2005 SCMR 512; Mst. Amtal Habib and others v. Mst. Musarat Perveen and others PLD 1974 SC 185 and State Life Insurance Corporation of Pakistan through Zonal Head Lahore v. Rabia Jamshaid and others C.P No.1810 of 2011 rel. (b) Insurance Ordinance (XXXIX of 2000)--- ----S. 72---Nomination by policy holder---Scope---Role of the nominee is simply to collect the proceeds of the policy as a trustee and then distribute it among the legal heirs of the insured person. Mst. Ameer Khatoon v. Mst. Shamim Akhtar and others 2005 SCMR 512; Mst. Amtal Habib and others v. Mst. Musarat Perveen and others PLD 1974 SC 185 and State Life Insurance Corporation of Pakistan through Zonal Head Lahore v. Rabia Jamshaid and others C.P No.1810 of 2011 rel. (c) Insurance Ordinance (XXXIX of 2000)--- ----S. 72---Nomination by policy holder---Scope---Section 72 of the Insurance Ordinance, 2000, empowers the policy holder, when effecting the policy or at any time before the policy matures for payment, nominate a person or persons as the beneficiary of the policy to whom the money secured by the policy shall be paid in the event of the insured persons death. JUDGMENT JUSTICE (R) ALI AKBAR…

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