Scottish Widows is highlighting the importance of financial protection to coincide with Multiple Sclerosis Awareness Week which starts on 25 April.
The MS Society estimates that there are approximately 107,000 people with MS in the UK and that 5,000 individuals are newly diagnosed with the condition each year.
Scottish Widows paid out almost £4 million in critical illness claims relating to MS in 2014, which accounted for around five per cent of all critical illness claims that year.
The average age for male claimants in 2014 was 47, while the average age for females was 42. Two thirds (66.6 per cent) of claimants were female, the insurer said.
However, research from Scottish Widows, however, raises concerns over the nation's lack of financial protection should a serious condition like this be diagnosed.
One in seven people have been affected by critical illness, and more than a third (37%) rely on two incomes.
Out of those affected by critical illness, 42% said they had to make lifestyle changes in order to cope with the financial impact, while only one in 20 had a policy in place.
More than two fifths (44%) of the British population admit that their savings would last just a couple of months or less if they became unable to work.
Scott Cadger, head of underwriting and claims strategy at Scottish Widows, said:
"The number of people with MS in the UK is growing by around 2.4% per year, due to individuals with the condition living longer, which reinforces the need for financial protection in order to cover things such as loss of income, clearing debts or adapting your home to your particular needs.
"Many people believe that they'll be able to rely on the State if illness strikes, and while this provides a basic level of support, we would firmly advise people to make their own provision for themselves and their families in order to maintain their current lifestyle should the unexpected happen."
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