The document highlighted that 31% of families have less than £500 in savings, with this figure more than doubling amongst single parents.
While the report shows that Brits are enjoying record incomes and lower household debt, Aviva's Protection Director, Louise Colley, has warned against complacency.
She said: "These latest figures show how quickly financial situations can change so we’d urge people to take steps to protect themselves against unexpected financial shocks.
"While some families do appear to be on a firmer footing, an unexpectedly lost income can have huge repercussions, so it’s important that people make sure they protect their loved ones’ futures."
