Nearly 40 million are unclear of what kind of financial support they would receive from the state in the event they or a family member were diagnosed with a serious illness, suffered a bereavement or a disability, according to Scottish Provident's Financial Safety Net report.
80% admitted that they did not know what benefits were on offer, should they find themselves in a position where they required government support to aid them and their families financially.
Susan Barclay of Scottish Provident says, "The lack of knowledge suggests that many are likely to find themselves severely under prepared, and on the back foot should they need help from the state. With the government looking to make further cuts to benefits, individuals need to act themselves to build a financial safety net, ensuring security should the worst happen."
Life insurance: News update: 22 October 2010