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:
“O, reason not the need! our basest beggars
Are in the poorest thing superfluous.
Allow not nature more than nature needs,
Man’s life is cheap as beast’s.”
—William Shakespeare (1564–1616)
“... business training in early life should not be regarded solely as insurance against destitution in the case of an emergency. For from business experience women can gain, too, knowledge of the world and of human beings, which should be of immeasurable value to their marriage careers. Self-discipline, co-operation, adaptability, efficiency, economic management,—if she learns these in her business life she is liable for many less heartbreaks and disappointments in her married life.”
—Hortense Odlum (1892–?)
“It is the genius of our Constitution that under its shelter of enduring institutions and rooted principles there is ample room for the rich fertility of American political invention.”
—Lyndon Baines Johnson (1908–1973)
“There is something fascinating about science. One gets such wholesale returns of conjecture out of such a trifling investment of fact.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
“This [new] period of parenting is an intense one. Never will we know such responsibility, such productive and hard work, such potential for isolation in the caretaking role and such intimacy and close involvement in the growth and development of another human being.”
—Joan Sheingold Ditzion and Dennie Palmer (20th century)
“We commonly say that the rich man can speak the truth, can afford honesty, can afford independence of opinion and action;—and that is the theory of nobility. But it is the rich man in a true sense, that is to say, not the man of large income and large expenditure, but solely the man whose outlay is less than his income and is steadily kept so.”
—Ralph Waldo Emerson (1803–1882)