According to insurers Scottish Provident, almost three in five women in full time employment predominately make the financial decisions in their household, compared to 47% in 2011. 

But the study also shows that 84% of women in full time employment do not have a critical illness policy in place, with the 57% citing expense as the reason they cannot justify taking out this cover.

The cost of protection for women is also likely to rise when the EU gender directive comes into force on December 21st.

Jennifer Gilchrist, senior product development manager at Scottish Provident, said: “It is a cause for concern that women who work are not recognising the importance of protection, potentially leaving themselves and their families open to financial hardship if they should become seriously ill, lose their jobs or die.

“Despite becoming ever more responsible for financial decisions, women are not making appropriate choices to safeguard their futures.”

Over two fifths of female employees said they would take out a protection policy if they had children, a huge rise on just a quarter who said they would in 2011.

A further 28% said someone close to them getting a serious illness would make them consider purchasing critical illness cover, while over a fifth cite getting married as something that would motivate them to do so.