It has been found that a growing number of men are not keen on purchasing protection policies like life insurance or critical illness insurance.

According to a survey millions would be caught unprepared financially in case they were diagnosed with a critical illness.

In a study conducted by Friends Provident it was found that 90 per cent of men do not have any critical illness cover, while 93 per cent have no redundancy cover just as 87 per cent have no private medical insurance.

In addition, 87 per cent of men are without an income protection plan, 81 per cent do not have a will and 71 per cent do not have a life insurance policy.

However figures have shown further that more than 80,000 men die of cancer each year, including 52,000 of coronary heart disease and more than 21,000 from a stroke.

Against the above backdrop the head of the firm which conducted the study warned that the manner in which men are taking risks with both their health and finances could have a devastating effect on them in case they were to suffer any form of critical illness.