When one of the heirs receives the life insurance death benefit that the decedent was paying the premium

When the decedent dies, the property left by the decedent is usually subject to inheritance by the heir as an inheritance property, but in the case of life insurance money, the decedent's property is based on the insurance contract.
It is not an inheritance property as it is received by the heir upon death.
However, if the decedent bears the insurance premium, it can be considered in the same way as the inherited property, so the inheritance tax law requires that the life insurance money be regarded as a "deemed inherited property" and the inheritance tax is levied.

The tax exemption limit for life insurance is 5 million yen per heir.
For example, if the life insurance money is 20 million yen and there are 3 heirs, it will be 5 million yen x 3 people = 15 million yen, and the taxable amount of this life insurance money will be 5 million yen.
This 5 million yen will be added to other inherited property to calculate the inheritance tax.

If you have any problems with inheritance, please feel free to contact us.

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YAMAMOTO.AKIRA

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