The firm urges people to build up their safety net, perhaps by making cuts in certain areas and putting the saved cash aside.
One way to do this could be to compare electricity prices online and switch energy provider in order to enjoy a cheaper tariff.
Susan Barclay, Scottish Provident's head of marketing, says: "It is clear that urgent action is needed, as well as a more realistic understanding about how you will survive should the main breadwinner become unable to work."
Comparing electricity online may be the best option for consumers looking to save cash, with Mark Todd, co-founder of energyhelpline.com, recently suggesting there is a lack of trust in face-to-face power sellers.
Posted by Jim Tidy
Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.