Only one in three Australians understands their life insurance and the benefits provided, a survey by the industry peak body has found.

The Council of Australian Life Insurers has again pressed the federal government to deliver on promised reforms to financial advice regulations so people can access the guidance they need to plan for their financial security.

“Many people may already have life insurance switched on inside their super, giving them access to death and disability cover,” council CEO Christine Cupitt said.

“This protection may be quietly working in the background, but it isn’t a set-and-forget benefit. Your job, income, family, mortgage and working hours can all change, and your cover needs to keep pace.”

According to the council, life insurers have supported about 54,000 claims and made almost $6 billion in payments through group superannuation policies in the past 12 months.

Ms Cupitt says the payments show insurance through super is supporting thousands of workers and their families facing illness, injury or death.

“For many Australians, accessing a financial adviser is out of reach. But they should be able to get straightforward, professional help to understand the cover they have,” she said.