In a recent 'Father’s Day Index' study by Insure.com, a typical dad's Dad’s household contributions were calculated at $20,248 in 2012. To adjust for inflation, Insure.com says the same household duties done by dad, in 2002, were worth $21,365 in today’s currency.
Insure.com analyzed wages for the tasks a typical father might perform around the home, including helping with homework, barbecuing, moving furniture and plumbing, based on Bureau of Labor Statistics (BLS) data.
Insure.com’s 'Mother’s Day Index' said that it would cost $60,182 per year to pay for someone to perform a typical mother’s household duties; that puts Dad’s value at about 34 percent of Mom’s.
Emmet Pierce, managing editor of Insure.com, said: "Dad’s true value could not be replaced with $21,000. Today, many families depend on two wage earners to pay the bills, and losing either income could force a lower standard of living. That's one of the chief reasons that family bread winners buy life insurance. Knowing that life insurance policies are in place can help give peace of mind to family providers who worry what might happen if they aren’t around to provide for the future."