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How to Use Life Insurance to Build Wealth

So often we ask God to do things for us that He has already done. It’s on us to access what God has already provided. Financial provision is all around us and can help fund our purpose. In this episode, I sat down with Acquania Escarne of The Purpose of Money and she broke down how to use life insurance to build wealth in non-traditional ways.

Acquania is a financial coach, hotel owner, podcast host, and independent life insurance producer. In this episode, she broke down:

  • The type of policy that allows you to withdraw from it
  • How life insurance can be used to build wealth while the policyholder is still alive
  • How Acquania used her own life insurance policy to purchase real estate

Acquania Escarne began her career as a Diplomat for the U.S. Department of State in 2008. While serving in Port-au-Prince, Haiti, Acquania realized how many working professionals, including her own colleagues, were not prepared for an emergency or unexpected life event. The devastating 2010 earthquake in Haiti demonstrated that even high-income earners often did not have sufficient life insurance, proper estate planning, or savings.

This experience inspired Acquania to work more closely with professionals, especially people of color, who have the potential to build generational wealth with the right guidance and support.

Today, Acquania is a financial coach, hotel owner, podcast host, and independent life insurance producer. She is committed to helping people find financial freedom and build wealth. Through her finance blog and podcast, The Purpose of Money, she shows women how to invest and save more so they can live a more fulfilling and prosperous life.

how to use life insurance to build wealth

Using Life Insurance as a Wealth Strategy

In this episode we covered…
  • How Acquania got into insurance
  • The different types of life insurance
  • How to decide how much life insurance you need
  • Terms every life insurance policy should have
  • The best time (age) to get life insurance
  • What to look for when deciding which insurance company to use for your policies
  • The benefits of having a life insurance policy, besides what the beneficiary gets when the policy owner dies
  • How can life insurance be used to build wealth
  • How Acquania personally used life insurance to build wealth
  • Why Acquania believes life insurance is so underutilized in the Black community
  • What to look for when deciding who to purchase insurance from

Want More?

If you enjoyed this episode, then you may also enjoy the episode of the show about the purpose of money or this episode detailing the investments you must make in your purpose.

Resources Mentioned

Connect with Guest

You can connect with Acquania on her

Website: thepurposeofmoney.com

Instagram: @thepurposeofmoney

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Disclaimer: If you happen to purchase anything I recommend in this or any of my communications, it’s likely I’ll receive some kind of affiliate compensation. Still, I only recommend things that I truly believe in and have personally experienced. If you ever have an issue with anything I recommend, please let me know. My goal is to help you thrive in your purpose. — Pavielle

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