Surrogacy is a viable way for you to bring a child into your family. The process can be complicated, though, and you shouldn’t submit to a surrogacy agreement before understanding what the terms of that agreement entail and how they impact you and your family.
But one common concern among those who are considering surrogacy is the cost. It’s a legitimate worry, as some experts estimate the total cost of a successful surrogacy to be between $100,000 and $225,000. Although that cost might turn you off, keep reading to learn more about ways to curtail the costs you’ll incur and make surrogacy a real option for you.
How can you afford surrogacy?
Coming up with enough money to cover a surrogacy can be tough, but there are ways to find support. This includes seeking the following:
- Employer reimbursement: Only a handful of employers offer benefits tied to surrogacy. But if you can secure a job with one of them, you might receive thousands of dollars in support from them as you navigate the process.
- Health insurance: In most cases, insurance plans exclude surrogacy services. That said, your plan might help pay for any operations that you or your spouse might need to facilitate the surrogacy, and your insurance will kick in to cover your child once born.
- Grants: There are a lot of organizations out there that support couples struggling with fertility issues. Some of them even offer grant money to help pay for surrogacy services.
- Home equity loans: No one wants to take on more debt, but if you have equity built into your home, then you might want to consider taking out a home equity loan so that you can redivert that wealth to what’s most important to you.
- Retirement funds: If you have to, you can pull some funds from your retirement accounts to help cover your surrogacy-related expenses. Just keep in mind that you might face a penalty if you pull out retirement funds too early.
- Savings: Of course, if you can, your best bet is to save up as much of your own money as you can, that way you can avoid interest rates and loan origination fees.
Don’t let your fear deter you from learning more about surrogacy
At first glance, surrogacy may not seem possible for you and your family. But there are concrete steps that you can take to bring your hopes for the future into reality. So, don’t let the costs or the nuances of the process scare you away. Instead, quell your fears by learning more about what you can do and how you can secure the help you need. Hopefully then you’ll feel comfortable and confident moving forward with your next steps.