Another new survey has found that people don’t like thinking about death or disability – and that’s why fewer than one-third of Australians aged 18-59 have a life insurance policy.

The Commonwealth Bank of Australia’s insurance arm Comminsure commissioned the survey, which also revealed that one-third of Australian adults have life insurance provided with their compulsory super policy only.

In the survey 62% of those with no life insurance were female.

People without life insurance are more likely to start thinking about it because of a friend’s illness or injury, or an important life stage like having a baby, getting married or buying their first home.

Half regard it as a waste of money, more than half believe they don’t need it, and one-third agree that lack of understanding is a reason for not having it.