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:
“The theater, which is in no thing, but makes use of everything—gestures, sounds, words, screams, light, darkness—rediscovers itself at precisely the point where the mind requires a language to express its manifestations.... To break through language in order to touch life is to create or recreate the theatre.”
—Antonin Artaud (1896–1948)
“For there can be no whiter whiteness than this one:
An insurance man’s shirt on its morning run.”
—Gwendolyn Brooks (b. 1917)
“As a Tax-Paying Citizen of the United States I am entitled to a voice in Governmental affairs.... Having paid this unlawful Tax under written Protest for forty years, I am entitled to receive from the Treasury of “Uncle Sam” the full amount of both Principal and Interest.”
—Susan Pecker Fowler (1823–1911)
“A stranger came one night to Yussouf’s tent,
Saying, “Behold one outcast and in dread,
Against whose life the bow of power is bent,
Who flies, and hath not where to lay his head;
I come to thee for shelter and for food,
To Yussouf, called through all our tribes ‘he Good.’ “
“This tent is mine,” said Yussouf, “but no more
Than it is God’s; come in, and be at peace;”
—James Russell Lowell (1819–1891)