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:
“That life protracted is protracted woe.”
—Samuel Johnson (1709–1784)
“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)
“...many tax collectors and sinners were also sitting with Jesus.”
—Bible: New Testament, Mark 2:15.
“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)