Keyman Insurance policy

hi mr.dutta nice talking u through this medium. premium is deductible as business expenditure u/s 37. if they key person dies, it will be taxable on the hands of receipient as income from other sources. if received by the key person it is taxable as profit in lieu of salary.do tell me if i m mistaken any where.take care bi

Thanks Vishal 4 ur reply , but Im miss shrabani not mr. Keep giving replies.