Law: Insurance Ordinance, 2000

Section: XXXIX,72

Law: Muslim Law of Inheritance

Section:

Law: Constitution of Pakistan, 1973

Section:

(a) Words and phrases-------Nominee---Meaning and scope---A "nominee" is typically defined as a person or entity designated to act on behalf of another, particularly in legal or financial matters---Nominee may hold assets for the benefit of the actual owner, indicating a fiduciary relationship---Nominee is "a party who holds bare legal title for the benefit of others or who receives and distributes funds for the benefit of others"; "nominee" is "a person who has been formally suggested for a job, a prize etc.(b) Insurance Ordinance (XXXIX of 2000)-------S.72---Life Insurance Policy---Nominee, status of---Nomination merely confers a right to collect the money or to "receive the money"; it does not operate either as a gift or as a will and, therefore, cannot deprive the other heirs of the nominator who may be entitled thereto under the law of succession applicable to the deceased--Thus, the nominee collects as a trustee for the benefit of all persons entitled to inherit from the deceased employee---Nomination merely confers a right to collect the money or to receive the money and it does not operate as a gift or as a will and, therefore, cannot deprive the legal heirs of the nominator who may be entitled thereto under the law of succession applicable to the deceased propositus---Thus, the nominee collects as a trustee for the benefit of all persons entitled to inherit from the deceased propositus.Mst. Amtal Habib and others v. Mst. Musarat Parveen and others PLD 1974 SC 185; Malik Safdar Ali Khan and another v. Public At Large and others 2004 SCMR 1219; Mst. Ameeran Khatoon v. Mst. Shamim Akhtar and others 2005 SCMR 512 and Postal Life Insurance (PLI) and others v. Muhammad Ishaque Butt 2022 CLD 309 ref.(c) Insurance Ordinance (XXXIX of 2000)-------S. 72---Life Insurance Policy, proceeds of---Tarka---Scope---Nominee assigned by the deceased---Scope and effect---Deceased in his lifetime purchased an insurance policy wherein he nominated his wife as his nominee---Mother of the deceased filed an application for issuance of succession certificate, which was concurrently declined---Claim of the petitioner (being mother of the deceased) was that she was entitled to…

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