Dads worth more in 2014

Around the house, dads are most often asked to take care of repairs and help kids with homework, among other odd jobs.

As a result, their annual worth is about $24,000, finds Insure.com’s 2014 Father’s Day Index, which looks at what average wages men could collect for doing household chores based on Bureau of Labor Statistics data.

The index says the value of dads has risen by more than $3,000 since 2011. Still, mothers continue to be more highly valued, with the 2014 Mother’s Day Index pinning them as worth nearly $63,000 this year.

Read: How much are fathers worth?, for more on 2013’s survey

It’s important to know how chores are split, adds Insure.com, since it can help families choose proper insurance coverage. Policy amounts often take into account salary replacement values, along with items such as debts, family emergency funds and future expenses families will incur.

Read: 5 steps to estate success

So, when looking at clients’ family structures and needs, also consider that an increasing number of men and women are switching traditional roles. For example, more women are seeking to build careers and handle family finances, at the same time as more men are shouldering extra housework and staying home with children.

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As a result, fathers could be worth far more than this year’s index suggests.

And that’s good news since men who take on more domestic chores are more likley to inspire their daughters to seek partners who do the same, as well as motivate them to be ambitious, finds a new study from the University of British Columbia.

Read: Advising new breadwinners

As fastcompany.com reports, the study suggests fathers’ behaviours may play a part in setting their daughters expectations of how men should behave and, thus, “may model their daughters’ future husbands.”

If young girls see their dads pitching in, says the outlet, they may expect their partners and colleagues to help and support them in the same way.

Read: Do CEOs with daughters pay women more?