Research from Tesco Insurance revealed that 37% of Brits say loved ones would not know their financial passwords should they pass away.
Alongside this figure, 33% said their loved ones would not be able to locate important financial documents stored online should they pass away.
The survey, which quizzed 2,008 consumers under the age of 55, also showed that 12% thought their loved ones knew where passwords were stored but lacked the knowledge to access them.
According to Tesco Insurance, not being open about financial passwords and sharing access can lead to delays at the point of claim, which can add undue stress to an already difficult time.
Ban Mahsoub, partnerships director, Tesco Insurance and Money Services, said: "The days and weeks after a loved one passes away are stressful and complicated enough. Now imagine going through all of that and not knowing or understanding where passwords, financial records or insurance policy documents are.
"This can not only cause undue stress and frustration, but it can also lead to delays and complications during important steps that need to be taken, such as when arranging the perfect farewell."
The organisation encouraged people to talk about finances and what should happen when someone dies.
The survey showed 20% of those asked had not spoken to their partner about what happens when they die, 29% had not discussed it with their partner and 35% had not had the conversation with their parents.
The benefits of openness are also shown in the survey, 52% of those asked said they would feel comforted knowing loved ones would be ok if the worst were to happen to them, 21% said having the conversation would reduce worry and 20% would allow them to live more freely.
Mahsoub said: "It's understandable that many people avoid conversations about death or finances – they're difficult topics. But as our research shows, not talking about them can leave loved ones locked out of vital information at an already emotional time.
"Taking simple steps to make sure passwords, documents, and plans are accessible can give everyone peace of mind and help families focus on what really matters."
