More than a third (35 per cent) of Australians see life insurance as just another insurance product people are trying to sell them, research data has shown.
The McCrindle Research Survey 2014 states 43 per cent see it as a necessity but 14 per cent of those surveyed say life insurance is unnecessary.
They believe their superannuation is enough to protect them in case of their death.
One in five Australians believe they need life insurance but cannot afford it at this point, most of these being parents (32 per cent).
"The older we get the more sceptical we become of life insurance as "just another insurance product" as shown by 27 per cent of Gen Y, 30 per cent of Gen X, 36 per cent of baby boomers and 54 per cent of ‘builders' (69+)," the report said.
Commissioned by insurance provider Budget Direct, the research found 45 per cent thought their superannuation would provide enough cover if they were to die, while 17 per cent did not know their debt value and 43 per cent were in the dark about how much death cover they had with their superannuation policy.