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:
“she bit the towel and called on God
and I saw her life stretch out . . .
I saw her torn in childbirth,
and I saw her, at that moment,
in her own death and I knew that she
knew.”
—Anne Sexton (1928–1974)
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—P.J. (Patrick Jake)
“People buy their necessities in shops and have to pay dearly for them because they have to assist in paying for what is also on sale there but only rarely finds purchasers: the luxury and amusement goods. So it is that luxury continually imposes a tax on the simple people who have to do without it.”
—Friedrich Nietzsche (1844–1900)
“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)