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:
“Since it is impossible to know what’s really happening, we Peruvians lie, invent, dream and take refuge in illusion. Because of these strange circumstances, Peruvian life, a life in which so few actually do read, has become literary.”
—Mario Vargas Llosa (b. 1936)
“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)
“To tax and to please, no more than to love and to be wise, is not given to men.”
—Edmund Burke (1729–1797)
“To be shelterless and alone in the open country, hearing the wind moan and watching for day through the whole long weary night; to listen to the falling rain, and crouch for warmth beneath the lee of some old barn or rick, or in the hollow of a tree; are dismal things—but not so dismal as the wandering up and down where shelter is, and beds and sleepers are by thousands; a houseless rejected creature.”
—Charles Dickens (1812–1870)