A mother's work in the home is worth a staggering £24,456 per year, according to the latest research from Legal & General.

The insurance provider says the value of a mum in 2006 is double the amount it was 25 years ago (£10,608) when they first conducted the study.

Figures from University online adviser Prospects show if a mother was paid for her work, she would earn £2,500 more than the average starting salary for a graduate in 2005 (£21,997).

Women would have to be paid £470 per week to cover the 66 hours of chores they complete, almost double the amount men manage (34 hours).

Most people underestimate the cost of a mother's weekly worth with men thinking £267 and women guessing slightly higher at £278.

This has led to under-insurance among British families as only 25 per cent of men and 17 per cent of women have insured their own lives.

Cheryl Clements, from Legal & General, said: "The financial value of a mother’s work in the home is often undervalued, especially when it comes to ensuring a family could cope financially if a parent died.

"We hope that the Value of a Mum research will highlight the need for family protection, especially as the cost of life assurance has reduced over recent years. People may not realise that these days, £6 a month could buy you around £100,000 of life cover."