Life Insurance To Shelter Investment Growth and Income
In an attempt to achieve the "best of both worlds" (protection in the case of early death, and additional tax-protected returns in the case of long life), life insurance policies were created containing investment accounts having preferential tax treatment. This is most often done with a Variable universal life policy. See that article for some discussion of the tax issues.
Read more about this topic: Life Insurance Tax Shelter
Famous quotes containing the words life, insurance, shelter, investment, growth and/or income:
“Political life at Washington is like political life in a suburban vestry.”
—Oscar Wilde (1854–1900)
“Women hock their jewels and their husbands’ insurance policies to acquire an unaccustomed shade in hair or crêpe de chine. Why then is it that when anyone commits anything novel in the arts he should be always greeted by this same peevish howl of pain and surprise? One is led to suspect that the interest people show in these much talked of commodities, painting, music, and writing, cannot be very deep or very genuine when they so wince under an unexpected impact.”
—John Dos Passos (1896–1970)
“A “just war” is hospitable to every self-deception on the part of those waging it, none more than the certainty of virtue, under whose shelter every abomination can be committed with a clear conscience.”
—Alexander Cockburn (b. 1941)
“The only thing that was dispensed free to the old New Bedford whalemen was a Bible. A well-known owner of one of that city’s whaling fleets once described the Bible as the best cheap investment a shipowner could make.”
—For the State of Massachusetts, U.S. public relief program (1935-1943)
“The Past—the dark unfathom’d retrospect!
The teeming gulf—the sleepers and the shadows!
The past! the infinite greatness of the past!
For what is the present after all but a growth out of the past?”
—Walt Whitman (1819–1892)
“You boast of spending a tenth part of your income in charity; maybe you should spend the nine tenths so, and done with it.”
—Henry David Thoreau (1817–1862)