Life cover is commonly taken out for the main breadwinner of the family, as their dependants would otherwise struggle to make ends meet if their monthly pay cheque came to an abrupt end. But what about the main homemaker of the family?

Stay-at-home mothers are often said to have the hardest job in the world, nevertheless families often fail to assess fully and plan ahead for coping with the financial impact of the loss of the main homemaker.

A study by Hibernian Life found that working mothers in Ireland spend 45 hours a week on household jobs such as cooking and laundry. This is on top of their paid employment and does not include time spent caring for their children.

In the case of the death of a stay-at-home or working mother, apart from holding down his job the surviving partner would have to cope as a single parent and single-handedly run a household.

Hibernian estimates that the annual cost of hiring a housekeeper to cover the chores done by the average working mother lies in the region of €35,000.

Therefore the importance of putting in place some sort of life assurance policy to cover this eventuality should not be underestimated, especially in light of the fact that 78 per cent of women who work outside the home are not provided with any death-in-service benefit by their employers.

Gareth McQuillan, marketing director with Hibernian Life, says: "The monthly cost of life insurance for a healthy female in her 30s can be as little as €20 a month. I would strongly urge families to assess their financial situation and consider the importance of the role of the homemaker and how they might cope if the worst were to happen.

"For women with young children, whether they work outside the home or not, life insurance should be regarded as an absolute essential, not a luxury," he adds.