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:
“Thus when I come to shape here at this table between my hands the story of my life and set it before you as a complete thing, I have to recall things gone far, gone deep, sunk into this life or that and become part of it; dreams, too, things surrounding me, and the inmates, those old half-articulate ghosts who keep up their hauntings by day and night ... shadows of people one might have been; unborn selves.”
—Virginia Woolf (1882–1941)
“Before I get through with you, you will have a clear case for divorce and so will my wife. Now, the first thing to do is arrange for a settlement. You take the children, your husband takes the house, Junior burns down the house, you take the insurance and I take you!”
—S.J. Perelman, U.S. screenwriter, Arthur Sheekman, Will Johnstone, and Norman Z. McLeod. Groucho Marx, Monkey Business, terms for a divorce settlement proposed while trying to woo Lucille Briggs (Thelma Todd)
“We shelter children for a time; we live side by side with men; and that is all. We owe them nothing, and are owed nothing. I think we owe our friends more, especially our female friends.”
—Fay Weldon (b. 1933)
“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)
“The secret of success lies never in the amount of money, but in the relation of income to outgo.”
—Ralph Waldo Emerson (1803–1882)