A 'Value of a Dad' survey states that fathers are worth over £23,000.

The life insurance provider Legal & General has indicated that the value of dads have almost doubled since 2005, where they were valued at £12,738. Their value has now increased to £23,296.

The survey also reveals that men spend 53 hours a week on household chores and childcare, compared to just 34 hours back in 2005. Also Dads get just seven hours a week to themselves and three hours a week to spend with their partner.

The survey also found that only 63% of dads have life insurance, 33% have critical illness cover and 27% have income protection, while 23% have family income benefit.

Alan Ferguson, Protection Marketing and Channel Development Director said: "Mums often get the headlines when it comes to domestic work, but actually Dads contribute a huge amount too. These days, the jobs involved in running a house are far more evenly distributed.

"It's not nice to think about, but families need to ask themselves how they would cope with all the domestic work and childcare that Dad does if he suffered a critical illness or died. People shouldn't assume that extended family or the State will fill the gap.

"Protection insurance can help provide peace of mind that a family could maintain its living standards if Dad was critically ill or passed away. Given the economic backdrop, now could be a good time to consider how to protect your family against financial hardship."