New research shows more people are insuring their pets than insuring themselves.
Data by insurance firm LV showed that one in three UK workers currently insure their pets.
In contrast, there was a lower uptake of people taking out a range of insurance policies for themselves.
The data showed long-term life insurance was taken out by 29 per cent of people, critical illness cover by 25 per cent of people, and income protection taken out by 25 per cent of people.
The data also showed that men were more likely than women to hold term life insurance, critical illness cover, income protection and private health insurance.
Both genders were just as likely to have pet insurance.
Critical illness cover is a type of insurance that pays you a cash-free lump sum if you get diagnosed with a serious illness.
If paid out, holders receive a tax-free lump sum to cover medical costs and to replace the income they will lose through not being able to work.
Data by insurance firm LV showed that one in three UK workers currently insure their pets - but by contrast, there was a lower uptake of people taking out a range of insurance policies for themselves. Pictured: File photo
Life insurance pays out when you die, leaving a lump sum for your family to settle debts.
Income protection is similar to critical illness cover, but provides a monthly income rather than a lump sum payout.
Gary Beyer, LV Protection Expert, said: 'This research is a wake-up call. Protecting pets is important, but safeguarding your own health and income is essential — without it, there may be no one to provide for those pets.
'Losing an income can be devastating and, without the right cover in place, many families could struggle to cope.
'Speaking to a professional financial adviser can help people to understand their options and put the correct protection in place to suit their individual circumstances.
'The protection gap remains significant and closing it is essential to building long-term financial resilience.'
The British public is also notably relaxed about travel insurance, with one in four hiding medical conditions when buying it to save money.
Some 24 per cent of holidaymakers intentionally avoid disclosing existing health issues pre-purchase, new research from Gigasure has shown.
Many fear that disclosing conditions will significantly increase the cost of the policy.
But this puts them at great risk of huge bills if something does go wrong - as claims could be rejected as a result.
There has been a 19 per cent rise in travel insurance customers who have had their claims rejected because pre-existing medical conditions had not been properly disclosed, Financial Ombudsman Service data shows.
There are lots of common, yet often undisclosed, conditions that won't impact the price of the insurance policy.
Failure to disclose these, whether intentional or not, can mean the difference between being fully covered while on holiday, or facing expensive medical and repatriation bills.
