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
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“Make me thy Loome: thy Grace the warfe therein,
My duties Woofe, and let thy word winde Quills.
The shuttle shoot. Cut off the ends my sins.
Thy Ordinances make my fulling mills,
My Life thy Web: and cloath me all my dayes
With this Gold-web of Glory to thy praise.”
—Edward Taylor (1645–1729)
“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)
“If you tax too high, the revenue will yield nothing.”
—Ralph Waldo Emerson (1803–1882)
“Our God, our help in ages past,
Our hope for years to come,
Our shelter from the stormy blast,
And our eternal home;”
—Isaac Watts (1674–1748)