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Christopher R. Hibbard, ChFC®, CRPC®, CFS®
Vice President, Wealth Management
Teachers Investment Services
Located at Teachers Federal Credit Union
5439 Sunrise Highway
Holbrook, NY 11741
Phone: 631-698-7000 Ext. 6020
Email: christopher.hibbard@lpl.com
CRPC conferred by College for Financial Planning.
May/June 2026
Hidden Talents of Life Insurance
When someone talks about life insurance, what do they think of? Most people are either satisfied, knowing they have sufficient coverage for their needs, or worried because they realize they need to obtain coverage. While the main goal of life insurance is to protect loved ones, it also has other talents.
Help Leave a Meaningful Inheritance
You can potentially leave a larger after-tax inheritance through your life insurance policy than with other assets. Moving some assets from taxable accounts into a life insurance policy may help you to potentially reduce ongoing taxation. Because the cash value in a life insurance policy grows tax-deferred, you also have the chance to grow the assets. With this approach, you may create new wealth for your heirs.For example, if you'd like to leave your family home (or business) to your daughter but don't want to shortchange your other child, you could buy a life insurance policy on your life equal to the home's value and name your second child as the beneficiary. Then, your other assets could be divided equally among your children. Keep in mind that as the value of your home increases, you'll want to increase your life insurance coverage.
Simplify Transfer of Business Interests
Have a business partnership? Using life insurance in your and your partner's business succession planning can facilitate the transfer of business interests upon one partner's death. Owning life insurance on each other's lives provides the surviving partners with the funds needed to compensate the deceased partner's family for that partner's business interest through the insurance proceeds they receive.Meet with your insurance professional to review your needs and circumstances and help determine how you can maximize life insurance's hidden talents. And use the opportunity to also review your (and your partner's, if applicable) succession strategy in light of your insurance review and any family or business changes that may have occurred since the last review.
*Applications for life insurance are subject to underwriting. No insurance coverage exists unless the required premium is paid to put an issued policy in force. Accessing cash values may reduce the death benefit and policy values, trigger tax consequences, surrender fees, and charges, and may require additional premium payments to maintain the contract. Guarantees are based on the claims-paying ability of the issuer.
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Christopher Hibbard is a financial advisor with, and securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Teachers Federal Credit Union (TFCU) and Teachers Investment Services are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Teachers Investment Services, and may also be employees of TFCU. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of, TFCU or Teachers Investment Services. Securities and insurance offered through LPL or its affiliates are:
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