Open Question: Filing of Income Tax return about Insurance Death Claim Benefit (India)?

Hi All, I have a question about filing IT Returns in India. Suppose a person N is a Nominee in an Insurance Policy and if the policy holder dies, then if N gets amount X from the policy.. How it would be filed in IT returns. Is this money TAXED or TAX-FREE? If taxed.. Any slabs & tax rates? Answers would be very helpful in Improving my Understanding about IT Returns in India.. Not only that i can provide some information to a friend of mine who is looking for answer for the query. Thanks for reading the question.. Would be good if some knowledgeable person provides useful information.. Regards,