August 14th 2024.
Shaquille O'Neal, a well-known basketball player and Hall of Fame inductee, has had his fair share of financial lessons. One of these lessons came early on in his career when he bought a car with grant money and then realized he couldn't afford the insurance for it.
As fate would have it, this experience led to Shaq becoming the face of The General Insurance company. This was revealed during an interview on the Earn Your Leisure podcast with hosts Rashad Bilal and Troy Millings in July of 2021. Shaq explained that while he was in college, he noticed that everyone around him had a car except for him. So, he decided to buy a used Ford Bronco for $1,500 using the $1,800 he received from a Federal Pell Grant.
However, it wasn't long before Shaq ran into a roadblock. The car salesman informed him that he would need car insurance to drive the vehicle. This came as a shock to Shaq, who had never heard of such a thing. In his own words, he asked, "What's insurance?"
After being educated on the importance and cost of car insurance, Shaq was in for another surprise. He found out that the monthly insurance premiums could be as high as $300. Feeling overwhelmed, he decided to return the Bronco to the dealership. Fortunately, the dealer had Shaq's best interests at heart and told him about The General Insurance Company, which offered more affordable rates.
Years went by, and Shaq's career took off. He left Louisiana State University and went on to have a legendary NBA career. Car insurance was no longer a concern for him, but he never forgot the help he received from The General Insurance Company when he was just starting out.
In fact, Shaq has become a spokesperson for the company, and he is proud to promote their services. In his own words, "The reason I do commercials for The General now is, one, they took care of me when I was young, but it's affordable insurance. It's really a quality insurance company just like all the other companies, but we decide we're not overcharging people."
It's clear that Shaq holds a special place in his heart for The General Insurance Company, and it's not just because they helped him out in a time of need. He believes in their mission to provide affordable insurance options to people who may not have access to it otherwise. This aligns with Shaq's own values and his desire to give back to the community. It's no wonder he will be receiving the 'Muhammad Ali Humanitarian of the Year' award.
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