Conn. Gen. Stat. § 12-342
The provisions of sections 12-341 and 12-341b shall not apply to the proceeds of any policy of life or accident insurance payable to a named beneficiary or beneficiaries, including such proceeds payable to a trustee or trustees under an inter vivos or testamentary trust or the proceeds of any insurance policy of a decedent payable at his death to his estate, the executors of his will or the administrators of his estate. The proceeds of any insurance policy issued by the United States and generally known as war risk insurance, United States government life insurance or national service life insurance shall not be taxable within the provisions of this chapter.
Conn. Gen. Stat. § 12-342
(1949 Rev., S. 2023; 1949, S. 1139d; 1957, P.A. 163, S. 27; 1963, P.A. 514; 1969, P.A. 784, S. 1.)
Life insurance purchased in combination with annuity contract held taxable under Sec. 12-341(d). 132 C. 5. Annuity is not within exception. 140 Conn. 491; 145 Conn. 497. Cited. 210 C. 277. Where accident insurance policy named no beneficiary, proceeds taxable to the estate. 17 CS 71. Meaning and application of "proceeds" discussed. 38 Conn.Supp. 54.