Life insurers are failing to attract Australian women, according to Allianz.

The Newspoll survey for Allianz reveals 41% of women with dependents do not have any form of life insurance.

Life insurance is perceived as “costly, complex and time-consuming”, says Allianz Australia Life Insurance National Manager Business Development Meredith Barnes.

Ms Barnes says many of the remainder only have superannuation death cover, “which represents only 20% of average life insurance needs”.

She says perceptions of the expense of life insurance are often wide of the mark. “In fact, life protection can be very affordable.”