The Truth About Life Insurance: How It CAN Build Generational Wealth | Anthony ONeal

do you agree with the statement of because i look good smell good work out every day and i drink water i don't drink kool-aid i don't drink sprites i don't drink i i don't you know i just drink water and when i go out on weekends i'll partake in some wine do you agree with the statement that because you're young you don't need life insurance what's happening [Music] so part of building wealth will here's one thing we got to consider uh what will happen to our family if we're not around anymore no one likes to talk about death and i want to keep it real with you i don't like talking about death either but it's a reality that we all have to face let's just be honest and we got to be prepared for it that's where life insurance comes in i found this stat that i wrote down i really want to talk about it real quick and it says only 52 of americans have life insurance but 100 of us will die i'm saying one more time half of american people have life insurance but all of us will die all of us i'm a christian man so i speak from a christian perspective all of us will go home to meet the lord one day that means that there are millions of people in america today who are leaving their families and and their financial legacy at risk they're putting in all this work they're building all this wealth they're trying to pay off all this debt they're building these beautiful families but leaving their families with nothing at the end of the day what you think about it how many times have you heard of someone dying and the community had to take up donations or create a gofundme account with the right life insurance policy that won't be the case for you and your loved ones because you're part of my tribe and i'm extremely happy today because um i have a special guest with me today that's gonna really walk us through what is life insurance why is it important what's the best way to get life insurance what's the best company out there to give you life insurance so i want you to listen very closely i want you to grab a pen i want you to grab a piece of paper pull out your notepad and get dialed in with your boy but before we get into today's show two quick things two quick things actually just one for today um number one if you're new to the channel thank you so much for rocking with me uh thank you so much for listening to me whether you're watching us on youtube or listening to this on podcast um just make sure you hit the subscribe button and hit that bell notification because this month we're doing two shows we come out every monday and wednesday with brand new shows but then also you guys check this out next month in june we're going to three shows monday wednesdays and fridays of every single week giving you real relevant and raw conversations that's going to help you get out of debt help you build wealth help you protect your wealth like life insurance help you really grow your mind your number one asset and help you grow spiritually all here at the table every monday wednesday and friday so hit the subscribe button uh but before we get to today's show i'm gonna try to watch this quick commercial check it out we're gonna give you the best life but who knows how long you're gonna be around who's gonna help with the bills or the credit card debt or the mortgage rate [Music] i'm super helpful [Music] get a quote today at ethoslife.com so you know what's so funny um before i introduce our guest today it was about maybe four or five years uh my favorite uncle on my mom's side has had passed away and while i was going through that whole process with my mom we had to create a gofundme account and i remember donating to that gofundme account to help pay for his funeral and i was asking my mom questions like mom he didn't have life insurance put into place and she was like no and when we get to the wedding man it was not the wedding the funeral i was a little sad because i was looking at my aunt who was married to my amazing uncle and you guys i saw the the tears from losing her husband but then i also saw the stress of everything else that was on her and it was because she didn't have nothing to really help her just mourn unfortunately in a most respectful way because i love my uncle but he didn't think about her for when he was gone for the first week after he passed she couldn't mourn she couldn't have tears of joy that he went off to be in a greater place she didn't she didn't have the opportunity to just sit back and just breathe and just really take in everything that just happened no she was getting phone calls from bill clinton she was getting phone calls from the funeral home she was getting phone calls from the mortgage company saying hey you're late on this hey we need this we need that y'all and she lost her home she lost her home he didn't leave his kids any money he didn't leave his kids with with an alley hoop say you know what i'm going i love you here's some money to go set you up to win he didn't leave her to build wealth he didn't leave his kids to be well wealthy he didn't leave her with peace with joy with freedom with options he left her with stress and i love my uncle and i love my hunt but i don't want that for you i left that funeral young saying you know what nah that's not gonna be me i don't have a wife and i don't have any kids but i said that's not gonna be my mom that's not gonna be my dad that's not gonna be my family that's not gonna be my siblings i'm gonna make sure that bare minimum i am 100 taken care of and they can get they can get a little change in their pocket and we're going to talk about all this today i'm like what should you be doing if you're single you know have a family what should you do if you're just married what should you do if you have a full family married and kids we'll talk about all of that today because this is very important to me one of the key things when it comes to generational wealth is life insurance that is a great way to start developing wealth for the next two three generations so we're going to dial in and talk about it today with my friends here at ethos i'm really excited to introduce them to you all uh my new friend just met her today uh rasheeda she works with ethos they are on a mission to protect the next one million families by making life insurance more accessible affordable yes lawed and transparent for as many americans as possible and today we're talking about it all so i want you to grab a pen grab the paper again get some notes as a matter of fact i want you to send this video to someone watching right now i don't care if you're 18 watching this we're going to dive in and really have a real good healthy discussion uh because not only will this um protect your family but it can really shift the culture all right one of my mentors said this he said hey life insurance is just another way to tell your family i love you after you're gone that's a part of your love letter as you're transitioning this is a part of your love letter to your family saying you know what i love you enough that while i was alive i thought about you for when i was no longer on this earth if you love your family dial in if you love yourself dial in and let's talk about it today rasheeda what's going on my sister how are you yeah i am great how are you man i'm so good thank you so much for rocking with us man i'm just gonna call myself out we did a whole interview and i didn't record the interview so this is our second time seconds out of the chat second time is a charm it's gonna be better y'all we did a whole 50-minute interview and we did not hit no i'm not we because she it wasn't hurt me ashley is my producer cj my producer didn't hit record i'll believe what you want comments i didn't hit record i'm gonna call myself out and it's all good but we're here today because you know i wanted to make sure and uh and my other friend helen from ethos she's on the line as well she was like wait wait they said wait that was such a good interview i was like i know helen are you upset with me helen no not at all it was a good practice run and this time it'll be even better i love to love it love love so let's go ahead and dive in rasheeda all right um you know how what what is life insurance and really i really want to ask this question up front because i don't really think a lot of my tribe so my tribe is going to be really i have a little bit of everyone but the bulk of my tribe is going to be in their 20s and 30s and really young 40s um and they're they're minorities they're black people um and i love all my people i know i got white people watching this too all right boys under the bulk of them like they're young and so they really don't know how life insurance works you hear so many things out there about i mean just scamming them out like hey get this policy you'll be able to make 50 million dollars and the next 10 millions off of this and so i really want to know from the very beginning to teach my people what exactly is life insurance and how does it work yeah and it's one of those things right it's like we won't really know until we know right it's not something we were taught in school along with english and math we don't get taught life insurance so we have to learn as we get older and realize how important it is so on the basis right let me break it down so life insurance in general is a contract right it's something that you collaborate with with a with a carrier or whoever you're working with in order to protect yourself and your loved ones so you pay a certain amount every month so that's the premium payments what it's called okay and that's your set rate you're paying for a coverage amount right so however much coverage you need in order to take care of your loved ones that's the coverage amount okay for a term life insurance specifically that phrase term is a set period of time so there's a term period from typically 10 up to 30 years when you're able to lock in that premium rate and pay for that policy in case something does happen to you within that time so it's very simple streamline product especially a term where you're able to just have that income protection during that certain period of time to make sure that something does happen to you everybody's covered so why is why would you say um term life is important you know and like why would you say ethos on top of that is the best provider for it uh but i'm curious because some people say well anthony i heard i should get whole life insurance because whole life insurance pays out a whole lot more um but you know why would you say term life insurance is is very important to people yeah and i know that's a fair question right and that's one of the things that we even had to figure out as a company right because we were only term insurance for a long period of time and we still think that term insurance is the best coverage option for majority of people right you're able to get a higher amount of coverage at a lower price and you're able to kind of essentially get what you need straightforward you know no frills no nothing you just get what you need and you're done you pay your bill and that's pretty much it whole life can be a bit more complex right so it's not for your a certain period of time but it's for your entire lifetime which means it kind of comes into different complexities and as you get more and more coverage the rate can get higher and higher and higher so it's it's helpful for some people but we figured that term is best for most people because they're just looking to get the coverage that they need afford to pay the bill right to maintain it and to just make sure that they're protecting their families for that period of time so we find that term is best for most people i love that and and i'm curious because i know this i know the answer to this question right but i think a lot of people said all right cool you're you're talking about you know getting term life insurance getting insurance policy but how does life insurance and even ethos i want to include ethos in this one help families protect their loved ones yeah so ethos we really pride ourselves on making sure that we are like our mission right our mission is to protect those next million families so we take all the technology that we've built in order to make this application process for life insurance super duper easy like making it super streamlined something you can actually do on your phone it's all online you're able to answer those health questions get what you need get that quote get that final rate pay your bill done you're able to get everything super duper easily versus other companies you know you might have to do blood exams you might have to you know fill out this paperwork you might have to go to meet an agent i'm not going to know some random person that's not that's not my vibe you don't need to do all any of that you can do it on your phone get coverage and you can talk to somebody if you want to but you don't necessarily even have to i didn't yeah i haven't talked to nobody i i literally was able to get that stuff and it was i haven't talked to nobody and i have a full insurance policy and um i absolutely love it uh i was talking to helen and the rest of your team on on the back end uh when we was putting together our partnership um that i was like hey um i had someone come to me he's like in his upper 40s about the 50s and he was like yo ayo i was listening to your show and i went on ethos to get a quote and bro they were not that cheap compared to where i'm at now and i was like really he was like yeah i know ethos wasn't for me and i was like interesting but you all when i went to get a quote you know when i first uh connected with you i get a quote from myself i went on the website did everything got a quote man you all honestly saved me close to 20 something dollars a month on my insurance policy compared to the one i was at and so i look at myself at 37 years old he's about to hit 50. so i'm curious how expensive is ethos um because i'm pretty sure ethos is probably not the cheapest for 100 of everybody i don't think nobody can say that um you know but how expensive is life insurance i'm curious yeah so in general life insurance it doesn't always necessarily have to be expensive right actually it's something we take pride on and making it accessible and affordable i like so yeah right because you don't realize like okay it actually is something that you can take the time to pay for it doesn't have to be another mortgage payment but it can be you know a bill that you can manage on a month-to-month basis and you know depending on how much coverage you need it takes all of you into consideration right so it takes your age it takes your health it takes your financial background it takes you know your your lifestyle into account it takes all of those things and it determines okay what's the best product for you and what's the rate that we can assess for you as quickly as possible so sometimes that doesn't necessarily mean that you're going to get the lowest rate but you're going to get the best rate for the product that we have for you and we have a wide variety of products at that so you're able to kind of streamline what would take maybe weeks or months with another company that might get you a little great but it'll take you three four months to get it versus getting the most affordable and accessible rate right now and that's that's what makes that difference for our how expensive it is how expensive it is yeah yeah i mean you all are not that expensive because i have other people who have signed up and um and it was like yeah man they were definitely affordable and it was quick it was really really quick really really really quick um i i unfortunately right um just i'm not gonna say any names because i'm gonna be disrespectful to any families or have it come off in any kind of way but recently we seen the news you know a young kid was just unfortunately lost his life at the age of 25. one of my good friends she woke up and her husband passed at the age of 29 from covey um just the other month last month actually my unpassed um in her sleep and we're seeing that it's clear we don't know when we're going to die you know we think we have tomorrow but we may not have to and a lot of people especially us young people we'd be like yo listen boy i'm in the gym every single day you know my chest is looking good my gun's just looking good the ladies like yo my calves looking good you know my my back end i do leg day every day i look good they're watching this st anthony i am healthy i drink water i don't do kool-aid i do want to anthony and i don't do ribs because i want to make sure my stomach is flat i eat salmon i am healthy i i look good i smell good i'm walking i'm lifting heavy weights anthony i don't need no life insurance i got another 60 70 years of my life i worry about that when i hit 50. this is what these young people are saying in their 20s and and young 30s like i got tired yeah do you agree they got time i mean well well we don't know if they got time but do you agree with the statement of because i look good smell good work out every day and i drink water i don't drink kool-aid i don't drink sprites i don't drink i don't you know i just drink water and when i go out on weekends i partake in some wine do you agree with the statement that because you're young you don't need life insurance yeah i i don't and i had to learn that the hard way as well right seeing people younger than me passing away unexpectedly you know you really just don't know and even if you're in the greatest shape of your life you know your time can come before you even realize it so having that protection especially while you're young and single and you're you know living your best life this is actually the perfect time to get life insurance because you're never going to be as young as you are now that's just a fact and this might be the healthiest that you've ever been so companies are able to assess you for who you are today and you can lock in that rate for years to come versus you know waiting until you're in your 40s 50s i mean you can still get coverage obviously but it's going to be a dramatically different rate it's going to your coverage options might change you know you as a person is going to change over time so it's always best to get life insurance as soon as you can because you just never know what's going to happen to you yeah and later on the show we're going to really break down you know how to really calculate you know your insurance rates but i definitely do say that i think there's like three stages to life insurance in three different seasons one is gonna be when you're single like myself no kids no no life then the next season will be just me and my life if if that is the case when we do get married okay that's one thing then when i have kids there's gonna be a different a different kind of uh policy and we're gonna really break that stuff down so i really want you to keep it alive i want you to stay focused and really really rock with this but i'm curious um um what all are are there any stipulations around what you can use your your life insurance for like can you can can we cut that check to our kids so they can go out there and just buy a million dollar car if they wanted to you know can we cut that check to family can we send it to churches can we send it to organizations like are there any um no goals when it comes to our insurance policy or is it whatever the family wants to do with it is theirs yeah that's a great question actually because a lot of people don't really realize it's like that beneficiary the one that you put down are the ones that are going to technically make that decision but you can set them up beforehand or to say hey i want this money to go to my mortgage i want this money to go to my church or my organization that i want to provide for so you're able to set that up in your application as well as after you're activated like you'll reach out to our customer support and say hey i actually want you know this bank in order to get this money so that way my family is good on the mortgage they don't even have to think about it anymore you're able to set that up in your application and post activation so that way you can use it for whatever you need to you know as long as you're able to protect your loved ones and help them in order to like say just grieve and move on with their life and live the best life ethos is there to provide anything that you need in order to do that so rashida i don't know this question um and i don't know if helen's listening she can chime in too if y'all if you know the answer because i probably don't i just want to ask this um do you all provide any will services um at ethos uh we're actually working on that yes we do we're looking into will and trust services so once it's out there we'll announce it but it is something that's in the works so currently right now you don't have that right now it's on our website as far as like oh this is something that if you want to learn more about it we're offering that to you but yeah we haven't like put it out there to the world just just yet cool great great great so while ethos is working on that i'll make sure to put a link up there to where you can get a free will you definitely want to you know when ethos get theirs up and running you want to have everything in one house um and they'll probably be a little bit more proficient but she says something that is so key you got to have a beneficiary and you need to be honest with your beneficiary and what you want with your money when you're going one of the key things that i've done within my will as a single man is i put in there my beneficiary goes to my biological mom and my biological debt and so inside of my will i tell them what to do with my money right okay that's very important because i don't think you'll understand if if yeah you can pass right and let's say you do have life insurance and give it to the beneficiary but you don't tell the beneficiary what you want to do with the money they can do whatever they want to do with the money all right and so inside of my wheel i'm actually i break it down i'm like all right cool mom dad this is what i want you to do i want you to give x amount of dollars to my local church i want to give x amount of dollars and put it inside of this particular fund for my niece and my nephews uh for their college fund uh mom dad i want you to go put this x amount of money into a particular non-profit uh that i support and that i endorse and then mom and dad i love you all thank you for being my mom thank you for being my dad thanks for bringing me in this is the rest of this money is for you and your particular spouse but i'm gonna pause right there and park it the reason why the wheel is so important is because you don't want the state to to govern your assets and you don't want the state to tell your uh your kids who will actually raise them so a wheel you guys is so important if you can do a will and have a trust put in place it covers all of your assets it covers your kids um and then it allows you to when you leave there's no argument over your funds over your kids over your assets it is clear as day my my unfortunately my cousin passed last february actually february 12th of last year and uh she just dropped dead and she didn't have a will put in place and she was 26 27 years old and that was probably the hardest season of my life to watch that because she was my favorite cousin and to this day they're still having to go through the state to get certain stuff to this day they're still having to her parents are still kind of somewhat having some conversations on what they're going to do with this and with that and it was simply because one um she didn't have a will put in place so they had to you know raise funds two she didn't have a will not will she didn't have life insurance put into place so they had to raise funds and then two she didn't have a will so i just want to i want to put that in a parking right there because this is this is all important you guys yeah this is very very important um having a will and having a life insurance policy in place at 20 it's very very very important and i really want so i'll make sure to add that that link it's a free will generator you can do that yourself go get it notarized and boom i started off there and then as my assets and my my wealth starting to build up more i went ahead and have my attorney draft up something a bit more uh polished and a little bit more specific for my different um stuff but the majority of you all watching right now can do this free thing and get down with ethos and you'll cover and so i i know some people are watching right now rashidi and saying you know this is great okay cool i'm i'm i'm loving this i hear you about getting the will ao i hear you about getting life insurance i hear you that you are saying is it's inexpensive it's not as expensive and they're really not you guys there i mean i'm telling you i'm for my insurance policy which i'm in the millions right um i am not even paying above 150 bucks nice that's awesome like i'm i'm i'm very affordable now don't i don't want to come up missing you know what i'm saying let's not do that let's not do that i don't want to come up missing man cause after the show goes there if i come up missing you make the beneficiary you know what i'm saying uh so yeah yeah i won't come up missing so i won't say too much because i don't want to put myself out there like that uh but i know some people are watching right now saying okay i hear you they're affordable and accessible but anthony i have some pre-consist some pre-existing conditions are you all still affordable and and better yet not just affordable because there's some insurance companies um out there they can't even get a policy right will one let's do educational let's do educational piece two-piece if you can do this one why do insurance companies turn down people with pre-existence and then two what does ethos do can they steal rock with ethos if they have a pre-existing medical condition yeah so you're surprised how every carrier in every company is different on how they assess risk right so they take those things like your health conditions um your background into account and they calculate for themselves whether they want to take a chance on you or not right so some companies are just way more strict right they just say like if you're not you know this high earner if you're not you know the healthiest horse ever in the world then they don't want to take a chance on you yeah right and one of the things that ethos really cares about is that accessibility piece and making sure that we actually have something for everyone so even if you do have pre-existing conditions let's say you have you know some type of issue or a disease or something to that effect there is a policy out there for you even if you don't get a million two million dollars in coverage you'll have something to take care of your loved ones and you're able to find something that takes care of your needs regardless of your background because we access all of you like not just one part or another part we assess all of who you are and regardless of whether you have pre-existing conditions you can still get coverage man and that's important i love how you said you may not get the two three million dollars but you can get something yeah and something in today's day and time is better than nothing yes it is uh with inflation up right now we don't know when inflation is going to go down we prices are rising um let's let's just make sure that we we think about our loved ones yes um and let's help them out let's serve them so let's let's get to the details of this because we talked about what life insurance is we talked about the importance of why life insurance is important we talked about how life insurance could be expensive for some and for the majorities it will not be expensive especially if you use ethos and if you all say this is great where do i go already i i'm halfway through this show and i want to i want to sign up and go check it out go to dot anthonyo.com forward slash ethos that's anthony o'neill dot com forward slash ethos for the those who are listening on podcast i'll drop everything in today's show description um and i promise you it will not take you long but i want to walk through the process of one how do you all calculate how much life insurance someone's needs someone needs because what i do love about ethos is um y'all's heart is so pure right you all love people and you all want to help people win and so you guys ethos honestly operates a little different uh from other insurance companies none of their agents none of their staff get paid commission off of what you do enough of what you purchase so if you get on the phone with someone to get some more clarity uh which they would love to do with you they're not going to try and sell you something their computer is not trying to sell you the most expensive life insurance package the computer is saying okay this is the best package for you so let's talk about that like how does someone calculate um even this is even take ethos out of it how much life insurance do i need yeah right and it's like that's not something that you can actually like think about offhand right there's a couple of ways in order to do this right so one simple and easy way is to just think about your income right so if you have you're making fifty thousand dollars a year you can multiply that times ten or times twelve and that will be like the baseline for your coverage amount so if you're making fifty thousand dollars a year your baseline minimum amount is five hundred thousand dollars worth of coverage yeah and that's one simple and easy way to do that without taking a whole lot of other things into account i love it i love it love love love it now on on the pre-record um because we was practicing because i didn't hit record you broke down this whole analogy which i really love yeah and you said one of the analogies uh was what's dime yes let's break this down because that's a great teaching moment that i think that i love that honestly i'm i'm gonna steal that from y'all i'm gonna start teaching that period that's fine you can have you know what i'm saying because i mean that that's honestly a great a great thing to look at now dime stands for debt and then when you say debt that's like all debt right yes consumer debt credit card debt all that all that so they got to add it all up um debt the next one is the income you gave the example of fifty thousand dollars yes and then the next one was mortgage was another form of debt but this is asset debt so their mortgage right and then education now when you say education are you talking about their student loans what what are you talking about i wish it's more for your children's education your children's education yes like college tuition or they're paying for you know private school or something that effect making sure that those bills are covered yeah bar which i wish i could plug into the computer right now cj i would love to put this up on the computer because i i did some maps so let's let's just break this down you guys because this is just some good practical information for you right let's say you have 60 000 in student loans and forty thousand dollars another consumer debt car notes i mean this is gonna be everything you guys know this this is this is not new to you especially on my channel car notes credit cards um student loans private loans personal loans payday loans um family loans you know any kind of debt and debt is simply what have you borrowed that needs to be paid back to anybody um anytime so let's say for example with everything added up in your debt you have a hundred thousand dollars that's excluding your mortgage right so baseline right there you need a hundred thousand dollar policy then like what my sister just said income and i love how she said ten times because i teach uh get four times and not four times ten times your average salary so if you're making fifty thousand dollars like she said that's five hundred thousand dollars but the average american the average american is making forty six thousand dollars a year that's four hundred and sixty thousand dollars that you need to get but let's stick to my sister's man okay she said fifty thousand we gonna sleep with five hundred thousand then mortgage let's say you have a you know a good mortgage in america and you're at about three hundred and fifty thousand dollars for the mortgage right um and then education i wrote the book on education debt-free degrees the number one national best-selling uh book in the world um two years ago sold over two three hundred thousand copies but i'm loving it right and so i did the research so let's just say down the road um to get a four-year degree you're gonna be looking at about a hundred hundred and ten thousand dollars to get a four-year degree if it's in-state if it's out of state it's way more money but y'all know me you're gonna put in your will that you're gonna pay for your kids education as long as they go in-state okay if they go out of state they gotta pay the bill they gotta pay the bills so using her dime method debt income mortgage you need a million dollars in life insurance okay if you are married with a spouse and with kids and one thing too is i would even ask your wife like babe um if your wife is in school and she's trying and she's currently going to school right now don't just include your kids education includes your wife's education so this way she can continue her journey um she can continue going down the path she wants to go down and she doesn't have to worry about stopping or changing their whole life and this is what i love about life insurance and hear me clearly you guys life insurance is not only just about leaving your family with a lot of money life insurance is about allowing them to mourn you in peace mourn you with no stress yes let me say like this less stress because it's going to be stressful to lose someone that you love um and i i i want y'all to hear me clearly like i've been there and i've seen it and i see it every single day in my space that my husband passed and i didn't know that he owed this company because my name was on it i still gotta pay it and i don't i don't want to see that for you all i want you to be 25 years old thinking you got you know another 80 years left and i'll be honest with you i hope all of us watching right now live to be 100 100 plus i i don't want to speak depth on nobody but the truth of the fact is my mama always said i'm a mom my great grandma always said baby it's not a matter of if the storm is going to come it's just a matter of when the storm is going to come it's not a matter if you're going to die the richest person in the world is going to die we can't avoid death but what we can avoid is leaving our family with stress yes and so when we think about this million dollar policy to some that may sound expensive all right yeah you know like a million dollars i never made a million dollars my life think about leaving that to your kids yeah think about that thank you yeah i get it wow like that's like wow now you're the professional rashida it is a million dollar policy let's say for a healthy no debt good credit person is will a million dollar policy be expensive no actually come to find out that's one of the things that i even thought so too before i joined the company i'm thinking like okay i have this big policy i'm gonna be paying you know five six eight hundred dollars a month you know just to kind of maintain it and that's just simply not the case like that's one of the things that especially in our community where we kind of have this idea of what life insurance is like or how we have to deal with it and sometimes the history proves itself right like it can be very time consuming and complex but it doesn't have to be expensive and us here at ethos we pride ourselves on trying to create that balance of accessibility and affordability all right so making sure that we take all of you into account including your income right to make sure that you can actually afford the rate that you're getting you know making sure that whatever background you have you're able to keep that coverage maintain that coverage and get the coverage for your family i'm curious do you know like a ballpark of someone that says healthy of what a million dollar policy would be i think i have a an idea um i'll say it so ethos doesn't have to say it i think i've seen some races they're in between like 50 and like 60 70 bucks for a million dollars in a month like and fifty dollars like that yeah i mean fifty dollars and you got a million dollar policy like you spend fifty dollars on food so this simply means like instead of for eating out because think about it you're going to spend about 10 to 12 on breakfast if you're eating out every day you're going to spend about 10 to 15 bucks if you're going to fast food restaurant every single day for lunch you're going to spend about 20 bucks on dinner so right there in one day of you just not eating out you just covered your family you just told your loved ones you just included a a dope love paragraph in your love letter when you transition and i think we have to start thinking about that like okay what do i value more do i value only my life while i'm living or do i want my family's life two two two two to really love me when i'm going uh we talked earlier about single people you know um do you in your professional opinion do you believe single people need just as much insurance as someone married with kids oh that's actually a good question because in general we all need coverage right regardless of how much or how little and it depends on your circumstances right you might be a high earner you might have a lot of debt you might have a lot of things going on that will feel like you know having a bigger policy would be necessary but in general not necessarily you know you just kind of might just need 200 300 000 worth of coverage just to make sure that you're taken care of right your funeral is taken care of you can actually leave money for the next generation of building that generational wealth but if you're single 20 something yeah you might not necessarily need a whole lot of coverage but you need something in order to make sure that your loved ones are taken care of and that's the best time to really get it honestly like when you're single in your 20s no you might think you know you get the whole world ahead of you but you just don't know what could happen so you're the youngest you're ever going to be you're the healthiest you're ever going to be most likely so this is the best time in order to get life insurance because you're going to get the best rate and you're going to be able to keep it for a longer period of time as well so you can lock that rate in pay that you know as your life changes you know if you just get married and you have kids you know you're going to be able to keep that same rate for years to come and as things change you know you can always reach out to your agent and have that adjusted for you as well man i i i totally agree i don't think i think someone is single should have at least six figures in life insurance so that way you take care of all of your burial um uh prices none of your family members have to worry about creating a gofundme or anything like that then you're gonna have some uh money in there as well to where if your parents or if you're uh if a family member has to step in maybe take off a week or two to get all your situations um get everything situated for you so that way they don't have to worry about taking paid time off or you losing money to come do that you can allocate some funds to them and if you want to leave a little bit of money to your family cool great and then when you're married it goes up i mean once you're married you need to follow the dime uh thing that we just broke down uh which is going to be your debt your income especially your mortgage um and then your education if your spouse has already completed their education you don't have any kids and you don't need as much but then when you get kids you need to think about that um and really just make sure that you're taken care of you know one of the things in a dom method that i really really really love was um we're thinking about the mortgage and you guys you guys know me i'm huge on wealth building and there are three components to building wealth that i think that are very important number one let's avoid debt uh number two that is um home ownership and number three that is life insurance and i really want to talk real quickly um about home ownership in a market that is just really creating a lot of prices are going up um my friends over at churchill mortgage who have financed all of my homes are coming out with a brand new program called homebuyer edge by churchill mortgage and this gives you the best chance to purchase the home of your dreams during challenging times and what i love about churchill is you're going to get a lightning fast approval through churchill mortgage app lightning fast guaranteed manual underwriting this is not computer driven this is going to be manual underwriters looking at your income looking at everything and they're going to give you a certified pre-approval because you're going to know your buying power you're going to know exactly where you stand and certified pre-approval simply means that it's not a computer approving it it is a it is an underwriter saying okay cool we see your income you see this we see that you're good so you're going to go to the seller saying hey i'm certified pre-approved um not only that not only that they're going to protect your interest rate through a rate secure program for up to 90 days and here's the thing that's so sweet i was like rashid i said god dawg where was they at where was this at when i purchased my home because this is my third home that i really want it's my third choice i lost my first and second choice to cash buyers because it was like yo we don't know if you're gonna if we're gonna lose out on you but they came out with this new program and they're gonna be offering the sellers a guaranteed five thousand dollars which provides the sellers earnest money if the purchase agreement was to cancel due to financing so with churchill mortgage you can get a certified pre-approval to let people know you've already been somewhat through manual underwriting you're going to have a locked in rate you're going to get a pre-approval super fast and you're going to be able to go to the table with another letter saying yo listen i'm so solid that if something was to go wrong on my end as a buyer my bank's gonna cut you a check for five grand all you gotta do is go to anthonyniel.com forward slash churchill get your pre-approval today go get the home of your dreams because we're about building wealth and like i said avoiding debt home ownership and life insurance we're talking about one of those today and i had to plug in my friends over at churchill mortgage because boom um listen churchill is on my actual will and life insurance policy if i was to pass good good ethos is going to be cutting the check to my beneficiary and my beneficiary is going to be cutting check to churchill to pay off my mortgage so i had to add that in there man so go to go to um anthonynil.comforce ethos to check out uh what ethos is doing go to anthonynil.com forward slash um um churchill to get that information and so i i just i really do love it um rashida i'm curious there are a lot of insurance companies out there a lot of insurance companies out there i mean yeah it's a lot in my opinion none like ethos and i've been rocking with you all now for about two months um i did a lot of research we we dated each other for about a month because i just really want to make sure that you know um this is going to be a good marriage and there's going to be we're going to be able to love each other and uh take care of each other and there's you know we both are not you know weird and uh it's important it's important you know and and and and you know i compared y'all to other companies and uh i was like man i really like this place so i say yo i will and i said yes y'all said yes and we have this beautiful partnership but i'm curious from your end how does ethos stand out from your competitors because there are other competitors out there and i'm curious why would you say to the people watching us right now in this show why rock with ethos yeah you know it's it's so funny when you say like i will and i do right like you took that time in order to research and figure things out and that's part of what we try to do here at ethos as well is to encourage people to look around to educate yourselves take on the resources that we even have in order to show you what's best for you and your loved ones so when it comes to ethos what makes us different from everybody else is that when we are 100 customer-centric right we're trying to make sure that you have the best policy for you and your loved ones and we try to make that as simple and as easy as possible right there's a whole bunch of other different life insurance policies and life insurance carriers but they are making that process so difficult in order to get through you know you have to do all this paperwork you have to take all these blood exams you have to you know jump through this hoop in that hoop and wait months in order to get something and we saw that i was like no we're not we're not doing that we don't have the time for that our loved ones need protection now yeah so we pride ourselves on making the process super duper simple and then even for other companies you know we try to make sure that what our products provide are accessible to everyone right like some companies you know they'll they'll give you a policy but they'll give you an expensive policy for a person that's a high earner or they are you know super duper healthy and that's not everybody yeah you know i'm not the healthiest person in the world but i still need coverage yep all right so we make sure that we have a product fit for you and make sure that it's an affordable and accessible rate for anybody that needs it and one of the things i love about y'all is it's just super simple you're just super simple super quick i mean i went online i had a quote uh i did the whole form answered all the questions within a matter of like i say for me eight to ten minutes um and when i got the quote within 24 hours i got the guaranteed confirmation saying hey listen are you ready to make your first payment because this is your rate it's locked in and i was like wow and what i loved about this is i didn't have to like when the last company i called them answered questions over the phone they asked me are you jumping out the planes i was like nah i don't jump out the planes i'm black i keep my feet on the ground you know what i'm saying i'm good bro um you know and so answer all these questions all right cool great next i was like next what's my quote he was like well if if everything's good here's your quote but we can't talk about that right now because you need to either come out to get your drug test yeah or we got to send someone to you to do your drug test i was like are you serious so when he scheduled that that was like two weeks out i was like oh my goodness okay i could die and so i got the test then i had to wait 30 days to get the test results back thankfully everything came back good i was clean hey man clean bill of health and so uh he was able to get that but i've heard stories of people saying but they came back and they found out they had diabetes or you know they found out other small little things and they had to you know get the doctor to sign off on certain things and get that in a place to get this it was just a headache but ethos says you know what we're done with all that we're going to ask you some questions please answer it ethically i'll be ethical and just operate out a moral answer the truth and we're going to give you the best quote possible within our research of you and your health and your credit and stuff like that and i mean man so not only are you all quick you all are affordable you are accessible and i just feel good that that i i wasn't sold something so you so that individual can make more money to provide for his family right so i'm at peace knowing that i got the best thing for me and for my family it wasn't the best thing this is good it wasn't the best thing for my seller's family yeah right you know and so of course ethos is going to make money we're in business to make money i get that but you all take very good care of your reps and you all have a heart of just education and just really making sure that they're good so i just appreciate you for coming on the show spending some time with me you spent two hours with me today you know you spent two hours with me today and uh people watching this what do you mean two hours it's only been like an hour show i'm like no you guys we did another whole hour show and rehearsals yeah we had a rehearsal because my producer cj just you know was slacking on his job and he just he did hey put the camera back on me [Laughter] you know my man was snacking on his job you know what i'm saying you know he he didn't he didn't follow behind me and say hey anthony hit record on you know on and riverside and we record all of our stuff on riverside virtually so i appreciate you so i will leave you all with this scripture proverbs chapter 13 verses 22 it says a good man leaves an inheritance to his children's children but the sinner's wealth is laid up for the righteous a good man a good woman leaves an inheritance to his children's children are you going to leave an inheritance to your children's children for that i know this is a this is this is rough but you know what you got car insurance you don't want to total your car you got health insurance you don't want to get sick get life insurance and i know you do not want to die you might never get into a car accident but you are going to for sure pass away let's let's think about that and i know me when i look down at heaven from heaven or my family i definitely want to see them crying because i'm gone but a month down the road i want to see them smiling i want to see them at peace i want i want to hear them saying thank you dad thank you bae like i want to see my kids saying you know what my dad left me a million dollars paid off the rest of my education i took that money paid off my home or bought a home and put this money into this investment to make more money so that way i can pass this legacy down to my kids you know i want to see my wife saying you know what she took that money put it in um paid off on mortgage and put it to an investment account and she you know is living off of the compound interests the dividends of that investment and she's gonna pass that down to our kids kids kids um i want i want to make sure that i'm a good man yeah and proverb tells us a good man leaves an inheritance to his children's children so today's affirmation is as i as i forgive myself it becomes easier to forgive others repeat i have to meet you guys five times as i forgive myself it becomes easier to forgive others yo it's your boy anthony i'm going to drop um um ethos information in today's show notes check them out join me over at ethos man i'm telling you it's very affordable you're going to thank me later your family is going to thank you when you're going yo we love you god bless you and we'll see you on the next show peace out [Music] you

Channel: The Table With AO

Views: 48,696

Keywords: anthony oneal, anthony oneal debt free degree, anthony oneal student loans, money, budget, how to save money, personal finance, debt free, how to budget, debt, how to make money, how to get out of debt, african American, student, EYL, Dave Ramsey, earn your leisure, black wealth, how to pay off debt, finance, black, wealth, retirement planning, credit card debt, bitcoin, stock market, term life insurance, what is life insurance, ethos life insurance, black generational wealth

Id: 6nSStHNn8DI

Length: 53min 37sec (3217 seconds)

Published: Mon May 16 2022