A third of mothers do not have any life cover, according to research by Legal & General (L&G). ...
A third of mothers do not have any life cover, according to research by Legal & General (L&G).
The research, Value of a Mum, revealed that the value of household chores undertaken by women amounts to £19,656 a year. After questioning UK families, L&G found that women were often overlooked when it came to life cover. Of those with cover, it was found to be inadequate when the extra work they put into the household is taken into consideration.
Angela Robertshaw, head of marketing communications at L&G, said: "Value of a Mum highlights the need for families to review their financial protection. The results show that people are concerned about protecting their family, but are not doing enough. It is now more affordable for families to protect themselves and their loved ones."
According to L&G, the average cover for mothers stands at £93,500. The Life Insurance Market Research Association (LIMRA) recommends that people have life cover of 15 times their annual earnings. Taking the average cost of household chores into account, it would mean that cover needs to increase to £300,000.
Women dedicated twice as much time as men to running the household, an average of 67 hours a week. Even full-time working mothers were found to do around 56 hours of household chores a week.
