Connecticut § 12-342 - Life, accident and war risk insurance.
Full text of Connecticut Connecticut General Statutes § 12-342 — Life, accident and war risk insurance., with citation guidance and answers to common questions.
§ 12-342. Life, accident and war risk insurance.
Sec. 12-342. Life, accident and war risk insurance. 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.
(1949 Rev., S. 2023; 1949, S. 1139d; 1957, P.A. 163, S. 27; 1963, P.A. 514; 1969, P.A. 784, S. 1.)
History: 1963 act included proceeds payable under trust; 1969 act revised section so that proceeds of insurance policy payable at death to estate, executors or administrators no longer subject to taxes.
Life insurance purchased in combination with annuity contract held taxable under Sec. 12-341(d). 132 C. 5. Annuity is not within exception. 140 C. 491; 145 C. 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 CS 54.
Source: official Connecticut text · Last verified 2026-08-27
Frequently Asked Questions About Connecticut § 12-342
What does Connecticut General Statutes § 12-342 cover?
Section 12-342 ("Life, accident and war risk insurance.") is part of the Connecticut General Statutes, the codified statutory law of Connecticut. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Connecticut § 12-342?
A common citation format is "Connecticut General Statutes § 12-342" (Connecticut). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Connecticut law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Connecticut official source linked on this page or consult a licensed Connecticut attorney.
How does Connecticut § 12-342 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Connecticut can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Connecticut.