Cost of Having a Baby

The cost of having a baby is more complex than you think

There's a lot to think about when having a baby, and the cost of caring for a child is certainly a priority. And while the cost of diapers, food and childcare are probably the first expenses you'll incur after having a baby, there are some additional and less obvious costs you should consider. College education, for example - even though it seems a long way off, the cost of college tuition will be much easier to handle if you start saving immediately after having your baby. Having a good life insurance policy is another consideration - for a very reasonable cost you can ensure that your baby will be provided for in the event something happens to you. If you'd like assistance with identifying and planning for the cost of having a baby, a John Hancock professional can help.

Get helpful information on the cost of having a baby from John Hancock

John Hancock has been in business since 1862 and we've helped a lot of families with the cost of having a baby. Our financial professionals have knowledge and experience in diverse areas of financial services and access to innovative insurance and investment products at a reasonable cost. They can help you think through not only the cost of having the baby, but the cost of providing for your children and yourself through childhood, college and into retirement. While money can be tight after having a baby, your John Hancock representative can help you identify your financial goals and develop a strategy to cope with the cost of achieving them. Having a baby is one of life's most exciting but daunting experiences, and your John Hancock professional can help you feel secure with the financial aspects.

How to deal with the cost of having a baby

When having a baby, you can count on your John Hancock representative to help you select the right financial products at a reasonable cost to provide for your child and your family. Having a 529 savings plan, for example, is a great way to put money away for the cost of your baby's eventual college education. Your money grows federal tax-deferred within your 529 plan, and withdrawals made for qualified educational expenses are federal tax-free.

Term life insurance is another potential financial tool with a reasonable cost to consider when you're having a baby. Term life provides coverage for a specific amount of time - if something were to happen to you, your baby and your family would receive the face value of the contract. It doesn't cost as much as permanent insurance, and gives your family the security of having necessary financial resources should something happen to you.

Your John Hancock representative can also discuss with you the options and cost of other insurance and investment products you may want to consider when having a baby.

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