Insurance contracts go beyond the main function of insurance and have the nature of similar financial products such as deposits, savings, and funds, through which they are used as a means of transfer of wealth between
 families and the uptake of property. As such, insurance products continue to diversify, but the basis for insurance-related tax revenue is not yet clear, so it is possible to violate tax law. For this, we would like to propose an improvement plan that takes into account the following problems. 
 First, there are definitions, scopes, and requirements for death insurance due to injury in commercial law. Therefore, the inheritance tax and gift tax law has no choice but to understand the concept of insurance as a borrowing concept, so it is difficult to tax based on this. In order to solve this problem, it is necessary to clarify the basis for the imposition of inheritance tax and gift tax by explicitly stipulating the nature and scope of insurance premiums, through the amendment of the Commercial Act. Second, it is necessary to clarify the scope of the interpretation of the ‘insurance contract period’ in Article 34(1)(2) of the Inheritance Tax and Assignment Tax Act. In other words, rather than interpreting on the ‘insurance contract period’ in Article 34 (1) of the same Act, it is necessary to judge the possibility of paying insurance premiums for those who have been gifted from others (the parties) according to their economic substance, rather than interpreting them based on the legal provisions or the concept of complete over the concept of complete coverage. Third, unlike the change of the insured beneficiary, the change of the insurance contractor will fall under the insurance transfer under the insurance law, and the nature of the insurance transfer will be estimated to be com-prehensive succession. Based on the estimated concept of comprehensive succession under the insurance law, it is possible to view the change time of the policyholder as the gift time to ensure legal stability, and the purpose of determining the tax base and tax amount as soon as possible can be achieved in terms of the tax law.