Life insurance can give your loved ones financial security should you die. In most cases life insurance proceeds are not taxable, so your beneficiaries should get the full amount available under your policy.
There are certain circumstances in which life insurance benefits may be taxable, but generally they apply only to permanent life insurance policies, such as whole life, or to individuals with very large estates.
Life Insurance Proceeds Aren’t Taxable, Most of the Time – NerdWallet