By Ronda Bradley
Consider the roles a mom plays, and what would happen if she weren’t there to take care of things.
How do you define “mom”? Her value is certainly more than any of the roles she might play: breadwinner, cook, server, dishwasher, psychologist, facilities manager, laundry operator, housekeeper, bookkeeper, daycare teacher, interior designer/decorator, nurse, chauffeur, janitor and computer operator.
Mothers are what made your life possible, yet in many cases their role is by far the most undervalued of all positions in which one could serve. We fail to consider what would happen if she weren’t there to handle things. How would the family continue with the plans for the future? College? Retirement? The value of a mom’s work has been estimated as high as $118,000 per year. The Mom Salary Wizard at salary.com can provide a customized value of the work of a mother.
Mike Tiernan, actuary and assistant secretary for The Cincinnati Life Insurance Company, knows all too well the value of a mother and the important role life insurance can play in securing the future.
“I wouldn’t be working for Cincinnati Life if it weren’t for life insurance,” says Mike. He and his wife, Diane, were working as underwriters for Cincinnati Insurance. When they purchased a home, they made the critical decision to also purchase life insurance to insure their mortgage. They never really thought they’d need it, but it would be plenty to cover the mortgage should one of them pass unexpectedly.
A couple of years later, Mike and Diane were finalizing the adoption of their son when she was diagnosed with a rare liver disease, making her uninsurable. The doctors felt that based on her young age and otherwise good health, Diane could live a normal life with a transplant, so she was placed on a transplant list. Life went on as normal as possible with her condition. When their son was about 2