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LV= research reveals the true value of the homemaker, but how many are financially protected?

LV= research reveals the true value of the homemaker, but how many are financially protected?

LV= research reveals the true value of the homemaker, but how many are financially protected?

LV= research reveals the true value of the homemaker, but how many are financially protected?

LV= research reveals the true value of the homemaker, but how many are financially protected?

LV= research reveals the true value of the homemaker, but how many are financially protected?

LV= Home Truths Index

Homemakers: happiest and hardworking…

The LV= Home Truths Index revealed that homemakers are happier than people working in any other occupation and they work double the hours most people think.

On average, they work 66 hours in a five day week with tasks like childcare, cooking and cleaning taking up the majority of their time, and the Office for National Statistics values the work of a homemaker at £38,162 a year.

… but overlooked and unprotected

Whilst homemakers are happier than people working in any other occupation, they’re not immune to accidents or illness.

The consequences of them being unable to play their role could hit the household hard and fast.

  1. Homemakers say it would take less than six days (5.9) for their homes to fall into disarray if they couldn’t do their normal household tasks.
  2. A fifth of homes (19%) with a housewife or househusband would have to stump up for help like a cleaner or childminder and half (51%) would have to raid their savings to do so, while one in ten (10%) would have to rely on credit cards.
  3. On average, families would only be able to manage to pay for help for 18 days before they ran out of savings or had to borrow money.

Despite this worrying gap and impact, only 7% of homemakers say they have any form of income protection to provide a financial safety net.

Home Truths

Help your clients understand the value of protecting the homemaker.

Mentoring 1h, Family transport 1h, Laundry 1h 30m, Cooking 1h 45m, Gardening 1h, Shopping 1h 15m, Cleaning 1h 45m, Childcare 2h and other 1h 45m

Income protection for breadwinners and homemakers

The value of the homemaker is often overlooked, but with Home Truths you can help your clients appreciate the value and role of both the breadwinner and the homemaker.

Download and use our infographic to help start the conversation and enlighten the breadwinner about insuring their partner (or at least put a smile on their face as the value of their contribution is brought to light).

Many people don’t believe an accident or illness will happen to them. You can use the LV= Risk Reality Calculator to help transform your protection conversations and share the 7Families stories to help them appreciate that life’s unexpected nasty surprise can (and do) happen to anyone and at any time.

You can use our budget planner to help clients understand their income and outgoings, and start to realise what choices they might be forced to make if an accident or illness prevented them from being able to work.


Income Protection solutions from LV=

As the UK’s number 1 income protection provider, we offer a wide range of income protection solutions to suit all sorts of occupations and budgets. With LV= Income Protection we offer a reassuring and affordable option for your clients who have chosen to stay at home.

  1. A simple and easy-to-understand definition of disability.
  2. Cover up to a maximum of £1500 a month.
  3. A choice of waiting periods.
  4. Level or inflation-linked cover.
  5. Budget or full cover options.

FOR UK FINANCIAL ADVISERS ONLY
LV=, County Gates, Bournemouth, BH1 2NF, UK