June 12, 2018 (Foster City, CA) – Dad’s salary inched up 2.8 percent for a new high of $26,842, according to the 2018 Father’s Day Index by Insure.com.
Using recent wage data from the Bureau of Labor Statistics, Insure.com creates the annual Father’s Day Index by calculating the value of Dad’s contributions to the household from 13 professions that reflect common chores and activities. This figure represents the value of his work and contribution outside of his professional “day job.”
Dad’s overall salary has increased the past two years, and this year, nine of Dad’s duties increased in wage.
Jobs that saw the highest wage growth this year:
Only four jobs on the list saw decreases:
(See the full task chart and associated wages.)
The annual Father’s Day Index is an upbeat way to address the challenging topic of life insurance. By measuring Dad’s contributions at home and the costs associated with them, families can think about how those activities would be accomplished if Dad was no longer around and hopefully have a discussion about planning for the unexpected.
Reviewing your life insurance needs couldn’t be easier than spending 5 minutes with Insure.com’s Life Insurance Advisor. The easy-to-follow tool allows you to do a checkup on the health of your coverages. You’ll receive customized recommendations on coverage levels, policy types and provides explanations of common insurance jargon – making it easy to shop for and compare quotes that fit your budget from the best life insurance companies.
“One of the most valuable contributions Dad can make is simply to be there,” said Penny Gusner, consumer analyst for Insure.com. “Driving to soccer practice, fixing leaky faucets and helping out with school field trips are just some of the jobs that might be sacrificed without a partner around.”
Families can use the index as a starting point for a conversation about life insurance that doesn’t need to be uncomfortable.
“Should the worst happen,” Gusner adds, “life insurance can provide incredible peace of mind for you and your family and make decisions substantially simpler at less stressful at a critical time.”
Methodology
“Dad’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 fathers often perform.
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