14
Payment of the sum assured
Act: Balochistan Provincial Employees Group Insurance Act 2009
Section Provisions
ACT X OF 2009 ACT X OF 2009 BALOCHISTAN PROVINCIAL EMPLOYEES GROUP INSURANCE ACT, 2009 An Act to provide for establishment of a Board for the common benefit of the Provincial employees of the Government and to provide for their group insurance and the matters connected therewith or ancillary thereto [Gazette of Balochistan, Extraordinary, 3rd November, 2009] No.PAB/Legis:V(9)/2009, dated 3-11-2009.---The Balochistan Provincial Employees Group Insurance Act, 2009 having been passed by the Provincial Assembly of Balochistan on 20th October, 2009 and assented to by the Governor, Balochistan on 28th October, 2009 is hereby published as an Act of the Provincial Assembly. Preamble.---Whereas, it is expedient to provide for establishment of the Balochistan Provincial Employees Group Insurance to regulate the Group Insurance of the Provincial employees of the Government of Balochistan and to promote and protect their legitimate interest in the same and to provide for their group insurance and the benefits attach therewith; It is hereby enacted as follows:-- CHAPTER - III GROUP INSURANCE 14. Payment of the sum assured.---(1) At the time of retirement or the death of an employee, the sum assured shall be paid to the employees or such member or members of his family as he might have nominated in accordance with the rules in full or in the shares specified by him at the time of making the nomination or in absence of any nomination to the family member(s) receiving pension of deceased employee at the rate specified in Column 2 of the schedule within 60 days: Provided that the employee retiring before 1st January, 2009 shall be paid the actual amount of his contribution plus a reasonable increase not exceeding Rs.50,000: Provided further that the Government may from time to time, on the recommendations of the Board, re-fix the rates of "sum assured" as specified in the scheduled by a notification to be publsiehd in the official Gazette.