Two thirds of consumers said they would ‘rely' on family support, savings, or investments; not protection insurance, if they were diagnosed with cancer and unable to work.
The study of 2,000 people, carried out on behalf of Friends Life to mark World Cancer Day (4th Feb) found three quarters of people (72%) said that if they were diagnosed with cancer, the most important thing they would want to protect financially would be their family's security (44%) or their mortgage (28%).
The research found around a quarter said they had some kind of protection insurance, either personally (12%), through their employer (11%) or through both (4%).
Two thirds of the people who took part in the survey (67%) said they would rely on either their partner, family or their savings and investments to support them financially, Friends Life said.
Less than two-fifths (38%) of people knew the likelihood of developing cancer, while just a fifth (19%) of people knew there are more than 200 types of cancer.
Macmillan Cancer Support estimated that four in five people living with cancer are, on average, £570 a month worse off as a result of their illness.
Steve Payne, managing director, UK protection, at Friends Life said: "It's important that people understand just how many lives cancer is likely to affect and what that means. Almost half of people we asked (46%) agreed that if they did have a critical illness, it would be up to them to provide their financial security, not their employer or the state.
"But 65% of people also admitted they don't have any life cover, critical illness cover or an income protection policy. Cancer is a disease which can't be underestimated. 60% of our critical illness claims are cancer related."
