Research conducted by Legal & General finds that the value of household chores conducted by a housew...
Research conducted by Legal & General finds that the value of household chores conducted by a housewife or husband is, on average per year, around £19,600. Even for full-time workers the average 56 hours of household jobs amounts to £16,290 per year.
According to Legal & General this research, as well as offering your mother some appreciative statistics on Sunday, reveals the importance of providing life cover for the house worker in the family.
The Life Insurance Market Research Association recommend that people have life cover of 15 times annual earnings. Taking the national average salary of £21,842, life cover should amount to around £300,000 - three times as much as the average current cover of £93,500.
L&G explain that for a 29-year-old non-smoking female, £300,000 of cover over a 25-year term would cost £13.90 a month.
Angela Robertshaw, head of marketing and communications, said: "Families need to check and review their level of financial protection. People are clearly concerned about protecting their family but are not actually doing enough about it."
Further information can be obtained on free phone 0500 33 66 66 or the Legal & General website at www.LandG.com
Women and young people adversely affected
A question of selectivity
Watchdog interviewed 13,000 people