Just 12% of carers in the UK have critical illness (CI) cover, a survey shows.
The research by Scottish Widows also found only 28% of people who look after family or community members have life insurance.
One in five people (19%) in the UK act as a carer, but 21% do not know who would take over their caring duties if they fell ill.
A further 20% do not know who would take care of them if they themselves fell ill.
A fifth (18%) of those without life insurance said they cannot afford a life insurance policy and 15% said it is not a financial priority.
One in 10 (11%) said they do not trust insurance companies to pay out, despite 97.8% of protection insurance claims being paid in 2017.
Gary Burchett, protection director at Scottish Widows, said carers should think carefully about ensuring they are adequately prepared for the future, to provide security and peace of mind.
“There’s also a wide range of considerations that we’d suggest carers think about to help them look after themselves. Our tips, which include guidance on our RedArc counselling service and taking advantage of the support of respite charities, aim to make carers more aware of the options available to them,” he added.