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Insure.com’s annual analysis of wage data finds that Mom’s value has dropped this year. So what’s for dinner?
Foster City, Calif. (PRWEB) May 01, 2012
Like other jobs, motherhood has taken a pay cut. Insure.com’s new Mother’s Day Index shows that Mom’s work around the house is worth $60,182 this year, a 2 percent decline from our 2011 index, according to an informal review of federal labor data. Last year, Mom’s value around the house was $61,436.
The index takes a look at jobs around the house that typically are associated with mothers and measures what it would cost to hire someone else to perform those duties. Wages earned at a job outside the home were not included.
Despite her slight drop in pay, the cost of replacing Mom is more than most families can afford. That’s a reminder of why mothers need to buy life insurance. According to LIMRA, a research and consulting firm, only 57 percent of women have some type of life insurance coverage. If they die unexpectedly, it could leave their families exposed to financial hardship.
“While the Mother’s Day Index takes a lighthearted approach, it has a serious message: Hiring someone to replace Mom would be prohibitively expensive for most families without adequate life insurance,” says Emmet Pierce, Insure.com’s managing editor. “If Mom works outside the home, as many mothers do, insuring her life becomes doubly important.”
When it comes to tasks around the home, Mom’s jobs cost roughly three times more to replace than Dad’s. Insure.com’s 2011 Father’s Day Index showed Dad’s value around the house to be $20,415.
Here are some sample replacement costs for Mom this year:
See the full “Mom job” list and article at http://www.insure.com/articles/lifeinsurance/the-mothers-day-index.html.
Insure.com is a comprehensive resource of consumer insurance information and data. The website features articles, news and tools on auto, home, health and life insurance topics; life insurance quotes; and car insurance comparison tools. Consumers have access to free car insurance quotes and guidance on finding the right insurance policy, saving money and solving claims problems. Insure.com is owned and operated by QuinStreet, Inc. (NASDAQ: QNST), one of the largest Internet marketing and media companies in the world. QuinStreet is committed to providing consumers and businesses with the information they need to research, find and select the products, services and brands that best meet their needs. The company is a leader in visitor-friendly marketing practices. For more information, please visit QuinStreet.com.
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