Millions of mothers remain financially unprotected with woefully inadequate insurance, according to Scottish Widows.

Just a third (33%) of women currently have a life assurance policy, fewer than one in 10 (8%) have critical illness cover and a shocking one in 20 (4%) have income protection insurance.

This means their families are exposed to potential financial problems in the event of their death.

The lack of cover is even more surprising when you consider that almost one in five (17%) women now claim to be the main breadwinner in their relationship, rising to a quarter (25%) among 25-34 year old.

Plus the value of a mother’s contribution to the home outside of employment is crucial to the overall family finances, with two thirds of women with children under 18 responsible for providing childcare.

Johnny Timpson, protection specialist at Scottish Widows, said: “The financial role for women in the family has evolved significantly in recent decades, yet very few get round to arranging robust protection that adequately supports their family and safeguards their future.

“But there are many more leaving their families at risk too, and just because someone doesn’t earn a salary doesn’t mean their contribution in the home shouldn’t be protected as it could be very costly to replace.”

Scottish Widows paid out more than £42m in women’s critical illness claims in 2014, with the average age for women who claimed being just 48. In addition, it paid out a further £33m in life assurance claims that year, with the average age for claims being 57.