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:
“Those whose life is long still strive for gain, and for all mortals all things take second place to money.”
—Sophocles (497–406/5 B.C.)
“For there can be no whiter whiteness than this one:
An insurance man’s shirt on its morning run.”
—Gwendolyn Brooks (b. 1917)
“What is the difference between a taxidermist and a tax collector? The taxidermist takes only your skin.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
“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)