The Value of a Mum?
Published ¤ 29/09/2009
What is the true value of a mum?
Legal & General have been conducting research on the value of a parent for 30 years, using the Office of National Statistics Annual Survey of Hours and Earnings. In 2009 they concluded that the "Value of a Mum" is now £32,812. This figure is higher than the National Average Earnings of £24,538. This is based on a mother spending 74 hours per week caring for her family.
Some more scary figures:
The figures are getting worse. Not only are parents more in need now than in the past, but the percentage of parents with protection is falling! In 2005 65% of parents had life cover, whereas in 2009 the figure is only 57%. The percentage of parents with critical illness cover has also dropped from 30% to 28% over the same period.
So, what can you do?
If you, or anyone you know has recently started a family, or had a recent addition, or if you would like to review your protection requirements, we would love to hear from you. Please call us on the number above, or click here to send us a message.
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