Millions of Brits who do not have life insurance to cover their homes are leaving their mortgages exposed, a leading insurer warns.

Some 4.2 million homeowners have around £217 billion of mortgage debt unprotected, according to Sainsbury's Bank.

It says that homeowners could be leaving their families facing huge financial problems in the event of their untimely death.

David Pickett, Sainsbury's Bank life insurance manager, said: "Life insurance provides financial cover should the unthinkable happen, enabling people to be secure in the knowledge that their dependants could receive a cash lump sum if they were to die.

"Homeowners in particular should take care not to overlook life insurance as it can help to ensure the property is paid for upon death alleviating any financial burden and may even provide financial security for loved ones."

Sainsbury's is also recommending that homeowners check their life insurance policies still offer cover in light of soaring property and mortgage prices.

Some 41 per cent of people have not recently reviewed their insurance and could stand to save money by shopping around for a better deal.