College Savings
Need to maximize your savings for education?
It's the dream of most families - to build sufficient savings to send their children to college. Saving for tuition is like saving for retirement - the sooner you start your savings plan, the easier it is. And with the average private college tuition for a four-year education now in the neighborhood of $100,0001, developing a realistic plan for college savings is more important than ever.
There are many more ways than you might realize to build a college savings program or plan. With the right assistance, you can enhance your college savings in a variety of innovative ways. For help in determining the best way for your family to boost education funds, consider John Hancock.
Consult John Hancock for ways to build college savings
While most people know that John Hancock offers insurance products - the company has been around for more than 140 years - fewer people connect John Hancock with college savings strategies. Yet John Hancock financial professionals have access to a wide array of products that can help you start or add to your college savings program or plan. Your John Hancock representative will provide objective analysis of your financial position and your college savings goals, and help you craft a strategy to increase your savings to meet the needs of your college.
Top strategies for increasing college savings
John Hancock offers a variety of products to help you ensure that you can reach your savings goals for college tuition.
John Hancock's 529 plan is one of the most attractive ways to build college savings. It offers significant federal tax advantages and other unique features that can help you maximize your savings. Earnings are federal tax-deferred and can be reinvested to enhance growth. And withdrawals for qualified educational expenses are federal tax-free.
Another important aspect of college savings is life insurance. Should something happen to you, a life insurance policy will ensure that savings are preserved and maximized so that your loved ones can get the education you want for them. And depending upon the type of life insurance policy you purchase, it may accrue cash value that can be borrowed against to add to your savings as needed.
For more information about strategies for maximizing college savings with John Hancock, click here.
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