I heard that Life Insurance payments, inheritances and gambling (and lottery) winnings are not taxable? Is that true?

Amounts that are not taxed

You do not have to report certain amounts in your income, including the following:

any GST/HST credit or Canada child tax benefit payments, as well as those from certain related provincial and territorial programs;
child assistance payments and the supplement for handicapped children paid by the province of Quebec;
compensation received from a province or territory if you were a victim of a criminal act or a motor vehicle accident;
lottery winnings;
amounts paid to replace earnings after being injured at work by the Workplace Safety Insurance Board;
most gifts and inheritances;
amounts paid by Canada or an ally (if the amount is not taxable in that country) for disability or death due to war service;
most amounts received from a life insurance policy following someone’s death;
most payments of the type commonly referred to as strike pay you received from your union, even if you perform picketing duties as a requirement of membership; and
most amounts received from a tax-free savings account (TFSA). For more information, see Guide RC4466, Tax-Free Savings Account (TFSA), Guide for Individuals.