https://www.taxtmi.com/caselaws?id=273222 A life insurance policy naming a spouse as nominee does not, by itself, create a trust or confer an immediate beneficial interest in the policy proceeds. The nominee can enforce payment only if the contract, read as a whole, or surrounding circumstances clearly disclose a trust or equitable obligation in her favour. In the absence of such trust language, the proceeds remain part of the deceased assured's estate and may be available to estate creditors. The discussion also notes that the Married Women's Property Act applies only where the policy brings the case within its statutory trust protection; mere nomination is insufficient. en-us Wed, 22 Feb 1928 00:00:00 +0530 Tue, 12 Jun 2018 12:52:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273222 A life insurance policy naming a spouse as nominee does not, by itself, create a trust or confer an immediate beneficial interest in the policy proceeds. The nominee can enforce payment only if the contract, read as a whole, or surrounding circumstances clearly disclose a trust or equitable obligation in her favour. In the absence of such trust language, the proceeds remain part of the deceased assured's estate and may be available to estate creditors. The discussion also notes that the Married Women's Property Act applies only where the policy brings the case within its statutory trust protection; mere nomination is insufficient. Case-Laws Indian Laws Wed, 22 Feb 1928 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273222