Life Insurance Mother’s Day Index 2017: Multitasking moms Written by: Penny Gusner Penny Gusner Penny is an expert on insurance procedures, rates, policies and claims. She has extensive knowledge of all major insurance lines -- auto, homeowners, life and health insurance. She has been answering consumers’ questions as an analyst for more than 15 years and has been featured in numerous major media outlets, including the Washington Post and Kiplinger’s. | Reviewed by: Michelle Megna Michelle Megna Michelle, the former editorial director, insurance, at QuinStreet, is a writer, editor and expert on car insurance and personal finance. Prior to joining QuinStreet, she reported and edited articles on technology, lifestyle, education and government for magazines, websites and major newspapers, including the New York Daily News. | Updated on May 4, 2018 Why you can trust Insure.com Quality Verified At Insure.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry. Being a mom is not a nine-to-five job. It’s an all day, every day job that, naturally, has its own rewards. But if mothers received a salary for all the tasks they did, it would be $67,619, the highest yet for the Insure.com’s annual Mother’s Day Index. That’s up 3.2 percent from last year’s value of $65,523. Mom’s value in our Index has been on a steady rise since 2014 after dropping in both 2012 and 2013. The Index looks at the many tasks a mom does at home to take care of her spouse, kids and household – and the amount you’d have to pay others to take over those duties. The numbers are based on the most recent Bureau of Labor Statistics (BLS) median wage data for women in common roles moms take on. The Index does not include any salary earned outside the home at a workplace. Multitasking moms get the job(s) done Being a mother has its benefits — like kisses and hugs — and pitfalls, such as, chauffeuring kids all over town and wiping away tears of sadness. Being a mom is also like an office job, in that moms must multi-task to get as much accomplished as possible. Insure.com looks at common duties that mothers typically fulfill in households and estimates how much time each year a mom spends on the various tasks. Only three “jobs” this year had a dip in salary: -0.9% — Chauffeur-1.8% — Designer-3.8% — Teacher Gains in salary were seen the most for: 8% — Hairdressers 7% — Grounds maintenance worker 7.2% — Private detective Keep in mind, some jobs we have listed for mom will take up just a handful of hours each year, while others are everyday roles. Some tasks may done concurrently, such as making dinner and helping with homework, because moms must multi-task to get it all done. Mothers will not be surprised that research shows they spend more time multitasking than dads. A study by the American Sociological Review found that mothers typically spend 10.5 more hours a week multitasking compared to fathers. These hours are mainly spent on housework and child care, with 52.7 percent of all working mother’s multitasking home activities involving housework. Mother’s Day job values index 2017 Mother’s tasks BLS occupation title Hours per week Weeks per year 2017 mean hourly wage % change compared to 2016 Mom’s 2017 annual earnings Cooking Cook 14 52 $10.53 5.3% $7,662 Driving Taxi driver/ chauffeur 9 52 $14.50 -0.9% $6,786 Helping with homework Other teacher/ instructor 10 40 $19.65 -3.8% $7,860 Taking care of the kids Child care Worker 40 52 $11.28 4.9% $23,452 Nursing wounds Licensed practical and licensed vocational nurse 2 12 $18.58 0.8% $446 Cleaning up/Laundry Maid/ housekeeping cleaner 10 52 $10.68 4.9% $5,551 Planning parties Meeting, convention and event planner 8 8 $21.30 1.4% $1,363 Summer activity planner Miscellaneous community and social service specialist 40 12 $19.18 5.4% $9,204 Hair stylist Hairdresser, hairstylist and cosmetologist .5 52 $12.50 8.0% $325 Shopping for the family Personal care aide 3 52 $11.73 6.3% $1,829 Family finances Accountant/auditor .5 52 $25.45 3.0% $662 Yard work Grounds maintenance worker 1 52 $12.55 7.0% $653 Fixing up the house Designer 5 8 $23.05 -1.8% $922 Finding out what the kids are up to Private detective 5 8 $22.60 7.2% $904 Mom’s total earnings $67,619 Mom takes on even more jobs Insure.com’s list of tasks for moms has remained the same since 2011. This year we retained the same tasks on our Index but looked to see what other jobs are appropriate to add, as some responsibilities haven’t been represented. For instance, how much more would mom’s salary be if it included her tasks as a baker, counselor and judge? Mother’s task BLS occupation title Hours per week Weeks per year Mean hourly wage Annual Mom earnings Baking for bake sales, Girl Scout meetings, Cub Scout meetings, etc. Baker 3 8 $12 $288 Counseling/consoling kids about problems Counselor 5 40 $22.14 $4,428 Listens to reasons for breaking family/house rules, fighting, etc. and handing out punishment Judge 3 50 $39 $5,850 Extra job earnings $10,566 Mom’s new total $78,185 Are there other tasks that should be added to our list? Any jobs in the main Index we should retire? Let us know your thoughts. Why you need to know mom’s worth While everyone’s mom, or mother to your children, is priceless and irreplaceable in our hearts, it is prudent to figure out the value of her household responsibilities so you can provide a financial safety net for the family through life insurance coverage. Many families couldn’t afford to pay for the services that a mom does for free. That’s why it’s important to consider what a parent contributes at home when deciding how much life insurance to buy. Putting a dollar figure on mom’s cooking, cleaning, child care and other similar responsibilities will help ensure you buy enough coverage when purchasing a life insurance policy. You want an amount that would cover replacement costs for household duties, plus her annual income if she is employed outside the home. Insure.com’s life insurance calculator can help you estimate what your household would need financially after the death of a spouse. The 2017 Insurance Barometer Study, an annual study from Life Happens and LIMRA, found that 85 percent of their respondents agreed most people need life insurance, but only 59 percent said they had a life insurance policy. And nearly 40 percent of the respondents say they wish their spouse had more life insurance coverage. You should consider buying a second life insurance policy if you’ve acquired more debt, for instance, you bought a bigger home with a higher mortgage, are getting a significantly larger salary or had children since you purchased your initial policy. Life insurance isn’t as expensive as many people believe. The Barometer Study results showed that many consumers overestimate the price of life insurance, believing it costs three times more than it actually does. Life Happens estimates that for a healthy 30-year-old woman, a 20-year term life insurance for $250,000 can be purchased for around $13 a month. You can save that amount by skipping three Unicorn Frappuccino’s a month, or following one of these simple ways to save for your life insurance policy. Find consumer ratings and start shopping with leading life insurance companies with Insure.com’s best life insurance companies reviews. Methodology “Mom’s value” is based on occupational wages from the Bureau of Labor Statistics and does not include a salary from work outside the home. It is calculated using a list of common household tasks that mothers often perform and rounded to the nearest dollar amount. × Get Free Life Insurance Quotes Today! Zip Code Please enter valid zip Age Age 16 – 20 21 – 24 25 – 34 35 – 44 45 – 54 55 – 64 65+ Coverage Amount Coverage Amount $50,000 – $100,000 $100,000 – $200,000 $200,000 – $300,000 $400,000 – $500,000 $500,000 – $1,000,000 $1,000,000 – $2,000,000 $2,000,000 – $5,000,000 $5,000,000+ Coverage Type Coverage Type Whole Life Term Life Final Expense Not Sure Gender Gender Male Female Non-Binary Tobacco Use Yes No Compare Quotes Penny GusnerContributor . .Penny is an expert on insurance procedures, rates, policies and claims. She has extensive knowledge of all major insurance lines -- auto, homeowners, life and health insurance. She has been answering consumers’ questions as an analyst for more than 15 years and has been featured in numerous major media outlets, including the Washington Post and Kiplinger’s. Related Articles Types of life insurance By Huma Naeem What is term life insurance and how does it work? 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