Press Centre

Dad's Life Isn't Cheap!

Dads’ weekly wage is just one of the financial contributions he makes to family life. Experts at ASDA have calculated that if dads were paid an annual salary for all their unpaid jobs, they would earn a staggering £16,484*. From DIY around the house to giving lifts and washing the car, dad’s are often responsible for many tasks we take for granted.

This Father’s Day, ASDA calls on families to consider whether they have adequate financial protection for the most important man in their lives. With Life Insurance premiums starting from as little as £7.05 a monthˆ it’s much more affordable than many people assume.

ASDA’s Head of Insurance, Gideon Ingham said:

“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.

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.”

Life insurance provides peace of mind. A cash lump sum is paid out if the policy holder dies or gets a terminal illness whilst they are covered. This would provide family members with the means to meet such expenses as mortgage payments, outstanding debts and funeral costs.

ASDA takes all the hassle out of life insurance by searching the market for customers in order to find the level of cover they need at the best possible price. Monthly payments can also be fixed so customers aren’t faced with any sudden increases. ASDA’s life insurance is provided in association with Lifesearch.  From DIY around the house to giving lifts and washing the car, dad’s are often responsible for many tasks we take for granted.

 

Task

Hours Spent Per YearEquivalent Rate
Helping with Homework

52

£1040
Driving Lessons

104

£2080
DIY

156

£7800
Lawn Mowing

52

£780
Gardening

104

£2600
Driving Kids to Dance/Football Lessons

104

£1560   
Washing the Car

104

£624
Total: £16,484
Posted in Press Centre on 10 June 2008