Can You Measure a Mothers’ Worth?

With Mothers’ Day around the corner, it’s the time of year where everyone starts thinking about all of the things their mother did or still does for them. From patching up “boo boos,” to chauffering you around your whole entire childhood, a mother essentially works all kinds of jobs. But with everything they do, how much is a mother truely worth?

Insure.com recently set out to find exactly how much money a mother saves a family by doing all the things they do. In total, they discovered that Mom saves the family about $61,000 by acting as nanny, nurse, cook, maid, etc. This total doesn’t include the money that a mom may bring in with her job either. So the question stands, why is it that so many women remain uninsured or underinsured when it comes to life insurance? While last year an average of six out of 10 women had some form of life insurance (the same as men’s life insurance ownership), the coverage purchased is about only 69% that of men’s.

It is often assumed that only the “breadwinner” in the family needs to purchase life insurance, but in reality both parents need to be insured. A family should consider that the loss of income isn’t the only financial hit that they would suffer from, but also all those tasks that mom does on a daily basis would now have to be performed by someone else. And the costs would add up! The following chart shows all of the average pay rates of each job performed by mom.

The Mother’s Day Index 2011

Mom jobBLS occupation usedHours per week/weeks per yearHourly wageWeeks per yearAnnual Mom cost
CookingCooks14 hrs./52 weeks$9.5352$6,938
DrivingTaxi drivers and chauffeurs9 hrs./52 weeks$13.4352$6,285
Helping with homeworkOther teachers and instructors10 hrs./40 weeks$17.8540$7,140
Taking care of the kidsChild Care Worker40 hrs./52 weeks$9.9552$20,696
Nursing woundsLicensed practical and licensed vocational nurses2 hrs./12 weeks$17.9012$430
Cleaning upMaids and housekeeping cleaners10 hrs./52 weeks$9.4052$4,888
Planning partiesMeeting & Convention Planners64 hours a year$23.11$1,479
Summer activity plannerMiscellaneous community and social service specialists40 hrs./12 weeks$18.1812$8,726
HaircutsHairdressers, hairstylists, and cosmetologists0.5 hrs./52 weeks$11.5552$300
Shopping for the familyPersonal and home care aides3 hrs./52 weeks$10.1352$1,580
Family financesAccountants and auditors0.5 hrs./52 weeks$23.8352$620
Yard workGrounds maintenance workers1 hr./52 weeks$10.8352$563
Fixing up the houseInterior Designers40 hours a year$24.99$1,000
Finding out what the kids are up toPrivate detectives and investigators40 hours a year$19.78$791

Total annual Mom cost: $61,436

Do you have questions about North Carolina life insurance or are you ready to call and get a quote to protect your loved ones in the future? Visit our website or call 877-318-5951 to talk to one of our friendly agents for a North Carolina insurance quote! It’s time to be smart and prepared so that your family doesn’t suffer financially if an accident does occur!

Thank you mom’s for everything you do for us!

Source: Insure.com

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