About 40% of super fund members do not understand the life insurance offering in their funds, according to the Association of Superannuation Funds of Australia (ASFA).

Almost half of all women are unsure about their cover compared with 35% of men, its research shows.

ASFA CEO Pauline Vamos says thousands of people may not have the best cover to suit their personal circumstances.

“Insurance provided through super plays an important role in helping to protect people from the financial shocks of unexpected events. But many people remain in the dark about what type of cover they have and whether it’s a good fit for themselves and their family.”

About 22% of Generation Y fund members have no understanding of their cover in super, compared with 6% of Baby Boomers. The generation gap is similar for the numbers with “poor” or “reasonably poor” knowledge.

Members with a “good understanding” are spread across all age groups.

Although many fund members have a poor understanding of insurance, 60% say they know how to choose from the options available in their funds.

ASFA has released a guide to insurance available through super, including questions people can ask their fund or adviser.