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 ​​​​​​​​​​ Shine Wellness Insurance & Financial Services

Here are 10 life events that means you should talk to us.
Life changes, your financial strategies should change too.
1. New job or career;  2. Marriage;  3. New home;  4. Starting a business; 
5. New baby;  6. Death in the family;  7. Suddenly single; 
8. Children entering college;  9. Empty nest;  10. Retirement

For business owners, we would like to talk to you if you are:
1. Just starting your business;
2. Consider expanding your business;

3. Retain good employees, provide executive benefits;
4. Ready to sell your business to enjoy your golden years...

True Client Story:    Sarah's Story
                           Based on Broker World Article—May, 2012

Sometimes, what seems to be the wisest or best course of action at the time can have unintended and potentially disastrous consequences. For Sarah, her husband’s decision to cancel his million-dollar life insurance policy ultimately left his family with less resources after his unexpected death—and taught Sarah a valuable lesson about preparing for the future.

A happy and healthy federal government employee, Stan was the sole breadwinner for his family of four. His family was well covered by insurance, since Sarah had the foresight to purchase a $500,000 permanent policy for each member of the family. Even though they were paying more than $10,000 a year in premiums, Sarah thought it was worth the cost. “I thought it was prudent to buy some permanent life insurance while we were young, healthy and could afford it,” she recalled.

However, Stan did not agree, believing that the money spent on life insurance could be put to better use for his family’s welfare. Against his agent’s advice, and without discussing it with his wife—which was not unusual, Sarah said, since he handled all the finances—he decided to cancel the permanent policy and replace it with a less expensive term one. Unfortunately, some time later that policy lapsed due to some errors in automatic payment.

Perhaps, as time passed, Stan might have reconsidered his choice. But he didn’t have the option. In 2006, at the age of 47, he was suddenly diagnosed with kidney cancer after finding blood in his urine. And although he tried to purchase a life insurance policy at that time, his illness precluded that option. Three years later, just a few months after his youngest son turned 12, Stan lost his battle with his developed lung cancer.

While Stan did purchase a minimal $100,000 life insurance policy from his government job, the life insurance payment was still a far cry from what Sarah would have had if the original policy had still been in place. And, as a stay-at-home mother with no job experience or skills, no close family nearby, and limited English skills, she found her new situation even more challenging.

“I witnessed the hardship Sarah went through after her husband’s death,” said her agent Evette Tsang, owner of California-based Evette Tsang Insurance & Financial Services. “She had so many worries about planning for the future, about her two children and about how they would handle the loss of their father, and, of course, about making ends meet. She had to handle everything—housework and all the family responsibilities of being a single parent to two teenage boys.”

But Sarah was determined to make wise choices, and relied on Evette’s advice as she navigated through her new life. She used the government policy proceeds purchase both a paid-up life insurance and term insurance, which gave her about $1.5 million coverage. She also chose the accidental death benefit, decreasing term and child protection rider on her two sons, purchased a long-term care policy on herself and permanent policies for both boys, and drafted a living trust.

“It is critical for me to get adequate insurance coverage now since I am the only parent of my two great teenage sons,” she said firmly. “I want them to be financially secure should anything disastrous happen to me. If nothing happens to me, I still want them to have some legacy funds from me.”

Soon afterward, by following the advice of her business-minded friends and through teaching herself, Sarah started up a dietary supplement consulting business because she was motivated by her husband’s death to help out others and improve their health. Through her business, she earned her first paycheck ever in United States. Now, in her spare time, she helps the less fortunate unselfishly as a volunteer. She has been able to rebuild life for herself and her two sons, helped in part by Stan’s retirement savings, pension, and social security. Both sons are excelling and thriving in school under her loving watchout. Recently family encountered another setback when Sarah learns that she will loss all the social security income when her younger son turns 16.

Although their story has a relatively happy ending, it has still been a hard journey for Sarah and her boys. And while nothing could have made up for the loss of Stan, having the proceeds from the original policy would certainly have eased Sarah’s burdens while helping herself and her children deal with their grief, alleviating their economic challenges brought about by Stan’s death.

“After witnessing Sarah’s situation, I more firmly advise people to have adequate coverage when they are healthy and can get it, to maximize the affordable group coverage,” Evette says. “Sarah’s story has certainly educated me to be more realistic about how my job as an agent can profoundly impact people’s lives, as well as their surviving spouses and children. The loved ones left behind are the ones who must struggle and continue with life. People have to be adequately covered by insurance if anyone they love depends on them for their income. I believe nothing says ‘love’ better than a comprehensive life insurance policy.”

(an update with Sarah's Story. Her second son just is about to graduate from high school and is accepted by UC Berkeley with full scholarship. She is relieved and look forward to new chapters of her life.)

Applying for college financial aid or scholarship?

Here are some latest info for your reference:

  • Adjusted Gross Income (AGI)  for 2013, the magic number for family of 4 is below $83,100; family of 3 is $76,500. 
  • Then parents assets (According to Federal Financial Aid):
  • Business assets don’t count if business employs less than 100 people;
  • Rental property only count equity;
  • Cash value of life insurance do not count;
  • Retirement accounts do not count, but the contribution for the year before you child applies counts;
  • The right type of college saving plans will help lower your EFC (expected family contribution, which can make differences of hundreds of thousands dollars.)

You can go on to do a FAFSA4caster     Good luck!

Need a little help in deciding which products and services would be right for you and your family? Please contact us. We can help you analyze your needs and recommend appropriate products and strategies.


The names have been altered to protect privacy. Discuss your individual needs with your insurance professional as he or she can recommend products and coverage that is appropriate for your particular situation. Your insurance professional can also provide detailed information about the products & features referenced in this article. The testimonial may not be representative of other clients' experiences and is no guarantee of future results. No fee is paid for this testimonial.