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 compensation of a very early success is a conviction that life is a romantic matter. In the best sense one stays young.”
—F. Scott Fitzgerald (1896–1940)
“Before I get through with you, you will have a clear case for divorce and so will my wife. Now, the first thing to do is arrange for a settlement. You take the children, your husband takes the house, Junior burns down the house, you take the insurance and I take you!”
—S.J. Perelman, U.S. screenwriter, Arthur Sheekman, Will Johnstone, and Norman Z. McLeod. Groucho Marx, Monkey Business, terms for a divorce settlement proposed while trying to woo Lucille Briggs (Thelma Todd)
“What is the difference between a taxidermist and a tax collector? The taxidermist takes only your skin.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
“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)