The Investment and Financial Services Association (IFSA) is funding more research through its underinsurance campaign, and this time the research is aimed at income protection insurance and its implications for the community.

In two separate projects, consumer understanding of income insurance and the cost to the community will go under the microscope. IFSA will conduct a comprehensive analysis of the level of underinsurance in Australia and will calculate the needs of buyers.

Part of the research is already under way and results are expected by the end of July. IFSA intends to release the full findings at its national conference in August.

CEO Richard Gilbert says the research is intended to find out what is driving income insurance purchases and where advice is sourced. It will also be able to find out what clients understand about available policies and whether they are too expensive or complicated.