Two in five would not miss a tenner a month, yet healthcare insurance remains low on the agenda, Bright Grey has said.
The insurer's research has shown half of people would give £10 away to family or friends, and only two in five knew where their money was spent.
Roger Edwards, proposition director at Bright Grey, said: "People need to ensure that their financial priorities are made so that they do not end up being wasteful with money.
"As little as £10 a month can provide people with up to £200,000 worth of vital life cover that can protect their families against the financial risks associated with the main source of household income, losing their life."
The findings showed 12% were either unsure or had absolutely no idea where their money went each month.
The research was conducted online by Opinion Matters among 1005 UK adults between April and May.
