Most simple answer - probably not. Life insurance is usually paid out both estate tax and income tax free. (The insurance loby is about as strong as you can get).
It is possible that some quirk could cause it to be taxable, but that is unlikely. Take the issue to your tax return preparer in the sping.
Don't spend it all in one place!
Sounds like good news. Insurance proceeds are not income taxable to the beneficiary. If by some weird quirk there is some income generated by the policy that is passed out to you there may be a taxable portion but probably not. I would discuss any paperwork you receive with your tax preparer to be sure but I doubt there will be any tax.
This is not legal advice nor intended to create an attorney-client relationship.
Most likely none. You will owe taxes on income earned on the capital after you inherit it.
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