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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“Undershaft: Alcohol is a very necessary article. It heals the sick—Barbara: It does nothing of the sort. Undershaft: Well, it assists the doctor: that is perhaps a less questionable way of putting it. It makes life bearable to millions of people who could not endure their existence if they were quite sober. It enables Parliament to do things at eleven at night that no sane person would do at eleven in the morning.”
—George Bernard Shaw (1856–1950)
“In taking out an insurance policy one pays for it in dollars and cents, always at liberty to discontinue payments. If, however, woman’s premium is a husband, she pays for it with her name, her privacy, her self-respect, her very life, “until death doth part.””
—Emma Goldman (1869–1940)
“Rumble thy bellyful! Spit, fire! Spout, rain!
Nor rain, wind, thunder, fire are my daughters.
I tax you not, you elements, with unkindness;
I never gave you kingdom, called you children.”
—William Shakespeare (1564–1616)
“O wert thou in the cauld blast,
On yonder lea, on yonder lea,
My plaidie to the angry airt,
I’d shelter thee, I’d shelter thee.”
—Robert Burns (1759–1796)