One in three have been embellishing insurance applications in the hope of cheaper premiums, Zurich has said.
The insurance gap is widest for aged 55 and over, MetLife has said.
Lifesearch, has warned against poor industry selling practices and the "laissez faire approach to the quality of distribution" by providers.
The most unnecessarily underinsured group in the UK is the HIV community, according to specialist advisers Unusual Risks.
Welsh broker Moorlife has secured a contract with web site for mothers to be Emma's Diary, providing protection products to its 650,000 members.
Martin Werth, managing director of Ageas Protect is to step down at the end of this year.
The ABI has railed against government plans to scrap life assurance tax relief which could hit as many as 1.5 million policyholders.
Britons aged between 25 and 35 are showing significant awareness and take-up of protection and health insurance products, according to new research.
Aviva has overhauled its approach to large case underwriting, to make the process quicker and easier.