Consumers appear confused about life insurance, according to research by Macquarie Adviser Services.

Few life insurance buyers approach their decision with confidence, Head of Research Gary Lembit told financial planners at a Macquarie Life breakfast seminar last week.

But those with a financial adviser are more confident about buying life insurance.

The research surveyed 1000 Australians’ expectations of life insurance and found almost 80% of buyers prefer face-to-face advice and only 14% prefer phone advice.

Mr Lembit says the proportion of parents with no life insurance or standalone life insurance between 2006 and 2012 fell due to a rise in super-based life cover.

Of those surveyed who had life insurance through super, about 50% think their policy is enough and would provide a similar payout to standalone life insurance.

But Head of Macquarie Life Justin Delaney says many Australians have little understanding of whether life insurance through super would meet their or their family’s needs.

Most respondents believe that buying life insurance would involve a lot of fine print.

Of those who were unsure of their coverage, about 45% thought a medical exam would be necessary.

Men are more confident than women about buying life insurance and opting for more coverage, the research shows.

Those surveyed say the most important attribute of a life insurance company is prompt claim processing with a minimum of red tape, followed by tailored products, adequate coverage and clear terms and conditions. Competitive premiums were seen as less important.

The research shows cost prevented people buying cover. Of those with no life insurance, 45% believe private health insurance is more important than life insurance.