Purchasing life cover has been recommended by ASDA, who released new research showing the amount of unpaid work undertaken by dads.
More of Britain's fathers should take out life insurance in order to protect against unforeseen events, ASDA Financial Services advised today.
The recommendation follows new research from the firm, which shows that dads make a big unpaid contribution from jobs and errands performed for their family. Indeed, if the average father was paid an annual salary for these lifts, car washings and DIY tasks, he would earn an extra £16,500 a year according to ASDA.
Gideon Ingham, head of insurance at the firm, advised: "Dad's financial contribution to the household via his salary is just the tip of the iceberg. Considering how inexpensive cover is, it's astounding how many families overlook life insurance for the person who is often the main bread winner in the family."
He added: "Life insurance should be accounted for as part of the family budget in the same way that birthdays and holidays are as it really is best to be prepared for every eventuality."
According to ASDA, the average father spends 52 hours per year helping with homework, 104 on driving lessons and 156 on DIY across the course of a year, along with other unpaid errands. These tasks were then matched up to rates charged by professionals offering the same services, from which the £16,500 annual salary was derived.
