BY HMONGTALES STAFF
Cheng Yang grew up in Oroville, a small town in Northern California. As a child, he grew up around the Hmong Christian community. He would spend most of his Sundays around family and friends at one of the local Hmong churches, learning, teaching, and helping out where he could.
As he got older, Cheng knew that he wanted to help people. He wanted to impact other people’s lives, so he pursued a teaching career. After attaining his teaching credential in Biology, Cheng got the opportunity to teach students at Yuba City High School, where he is currently a teacher.
Cheng’s life took a turn when his father-in-law got very sick and lost his job. His father-in-law was forced to tap into his life savings to make ends meet and pay his mortgages but was forced to sell his home a year later.
This was an eye-opener for Cheng as he thought about his loved ones who too, had gone through the painful experience of losing their job due to illness.
“When I learned about the living benefits of life insurance, I was shocked and startled, and I thought about my dad, sister-in-law, and father-in-law. These people I cared about had lost their jobs due to their chronic, critical, and terminal illnesses. My father-in-law and mother-in-law worked hard to pay for their mortgage to keep the house for their young children. Losing his job has made it difficult to make ends meet, especially keeping up with the mortgage. If my father-in-law had this life insurance with living benefits in place, he could have taken out his life insurance full face-value amount and used it to supplement as an income.”
After this eye-opening experience, Cheng knew he had to educate and share this knowledge with others. That’s why he decided to join Freedom Equity Group (FEG) to help educate and prepare families in times of hardship.
“One of the biggest reasons I came into this industry is to educate and help people understand the importance of life insurance with living benefits.”
Cheng provided some brief but essential information about life insurance below.
There’re three features in life insurance.
1.) Increased death benefit. The death benefit increases over time.
2.) Cash value growth accumulates over time in a savings account, increasing at an average interest rate of 7% – 8%.
3.) If you get sick under one of the following three: terminal illness, critical illness, or chronic illness, you can file a claim with the life insurance company to take out the full-face amount in cash, including your cash value.
The biggest takeaway about this life insurance product is to understand that:
1.) If you pass away too soon, then money will payout to your loved ones,
2.) If you live too long, then your cash value can be used as a supplement to your retirement.
3.) If you get too sick, you can take out your all-life insurance face amount along with your cash value to supplement your income.
If you have any questions regarding life insurance, please feel free to contact Cheng Yang.
Contact Information
Cheng Yang
Freedom Equity Group Life
Insurance Agent
[email protected]
530-990-9823
Want to share your story? Email your story to [email protected]. You can remain anonymous.
Please report any errors and typos by emailing [email protected]