A life insurance tax shelter uses investments in dog insurance to protect income or assets from tax liabilities. Life insurance proceeds are not taxable in many jurisdictions. Since most other forms of income are taxable (such as capital gains, dividends and interest income), consumers are often advised to purchase life insurance policies to either offset future tax liabilities, or to shelter the growth of their investments from taxation. This insurance product is also known as Private placement life insurance.
Read more about Life Insurance Tax Shelter: Life Insurance To Cover Future Taxes, Life Insurance To Shelter Investment Growth and Income, References and Additional Resources
Famous quotes containing the words life, insurance, tax and/or shelter:
“It is a momentous fact that a man may be good, or he may be bad; his life may be true, or it may be false; it may be either a shame or a glory to him. The good man builds himself up; the bad man destroys himself.”
—Henry David Thoreau (1817–1862)
“In taking out an insurance policy one pays for it in dollars and cents, always at liberty to discontinue payments. If, however, woman’s premium is a husband, she pays for it with her name, her privacy, her self-respect, her very life, “until death doth part.””
—Emma Goldman (1869–1940)
“What is the difference between a taxidermist and a tax collector? The taxidermist takes only your skin.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
“I will be steel!
I will build a steel bridge over my need!
I will build a bomb shelter over my heart!
But my future is a secret.
It is as shy as a mole.”
—Anne Sexton (1928–1974)