Health and general insurance are the second and third-most popular products among super fund members, according to new research by CoreData.

Almost 48% of people want health cover among the products offered on their fund, while 47% want general insurance, the study shows.

However, just 8% consider insurance to be a key area for advice, with tax minimisation the most popular at 46.5%.

Insurance is a factor when members are considering whether to stay with a fund, according to Salvador Saiz, CoreData’s Head of Advice, Wealth and Super.

“[When asked] what super funds could do now to encourage members to stay, 21.4% said better options for insurance cover.

“This was ahead of offering term deposit (14.7%) and direct share (11.6%) options.”

The most popular incentive is a cut in fees (64.6%), including the life insurance component.

Life cover is also a factor when members consider swapping funds; 22.4% of people surveyed say better insurance options would entice them to switch.

Again, lower fees are most popular, attracting 54.8% of respondents.