What's A Mom Worth?

With all that they do, it would be a considerable expense for many families to bear if mom was no longer there. Do the moms in your life have enough life insurance?

For the last 12 years, Salary.com has conducted a survey of moms (both working and those who stay-at-home) to determine their top 10 most time-consuming jobs and how much time is spent on each every week.

The jobs mentioned most often included housekeeper, cook, teacher, computer operator, chauffeur, janitor, psychologist, laundry machine operator and chief executive officer. 

Once the list was compiled, the number of hours spent on each job (including overtime) and salary data were factored in to arrive at an estimate of what mothers would earn if they were paid an annual salary.

Based on this survey stay-at-home moms spent a total of 94.7 hours (40 hour base and 54.7 hours of overtime) and working moms a total of 57.9 hours (40 hour base and 17.9 hours of overtime) on these duties.

To find out how much your mom is worth, visit the Salary.com website and take their survey.

In a 2012 Mother’s Day Index, Insure.com looked at the work mothers do and what a family would have to pay to hire someone to do these duties. While the value of this basket of tasks has decreased by approximately 2 percent since last year, it would be a considerable expense for many families to bear if mom was no longer there.

In addition to the loss of her work around the home, many families would lose a source of income if mom was no longer around.  According to a study by the Pew Research Center, the gender pay gap is narrowing.  In 2007 approximately 22 percent of wives out-earned their husbands. In 1970, this figure was 4 percent. 

But while Dads may earn more, Mom is more valuable in the home.  Insure.com’s 2011 Father’s Day Index found that to replace dad would cost 1/3 the price required to hire someone to take over mom’s duties. All this is a very solid reminder of why moms (both working and stay-at-home) need adequate life insurance.

Do the moms in your life have enough life insurance? Take some time to find out. LIFE (Life and Health Insurance Foundation for Education) is a non-profit dedicated to helping consumers make smart insurance decisions. They advise that the exact amount of life insurance needed for a mom depends on a variety of factors. To begin, families should review their finances to determine the amount of money they would need to meet the immediate expenses resulting from the untimely death of a parent. Life insurance would provide cash to help meet many financial needs so that emotional struggles wouldn’t need to be compounded by financial difficulties. 

“Life insurance helps make sure that the people you care about will be provided for financially even if you’re not there to care for them yourself.”  








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John Tyler May 08, 2012 at 08:59 PM
That old cold medication commercial says it all “Mom is sick what are going to do?”
Amy Byrnes May 08, 2012 at 09:36 PM
Happy mom = Happy family
Donn Sharer May 09, 2012 at 06:23 PM
Well said John! Donn


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