Some 29 per cent of parents plan to take their children on a family holiday during term-time this year.
Research by LV= highlighted trips outside of school holidays are up to 46 per cent cheaper and so families are looking to take advantage of this.
The most popular time for mums and dads to book a break is during the April to July period, as cash-strapped households seek to ensure they still get away.
In 2004, only seven per cent of parents admitted going abroad during term-time, but this figure has now risen to 21 per cent.
The main reason is cost, with 57 per cent saying their decision is financially motivated.
Selwyn Fernandes, Managing Director of LV= travel insurance, said: "The difference in price for taking a trip during the school holidays and during term-time is huge."
One-fifth of mothers and fathers who asked the school's permission for the break were refused, while 35 per cent admitted they pretended their child was sick in order to have a holiday.