Article 990 I of the French General Tax Code
I. – Where they do not fall within the scope of Article 757 B, sums, annuities or values of any kind owed directly or indirectly by one or more insurance and similar organisations, due to the death of the insured, are subject to a levy up to the amount of the share due to each beneficiary of these sums, annuities or values corresponding to the surrenderable portion of the contracts…