Nouvelles ACIFA

_{By CAFII, Kingsville Times}

Half of Canadian mortgage holders could only maintain their lifestyle for less than six months without their primary income, according to groundbreaking research from Pollara, commissioned by The Canadian Association of Financial Institutions in Insurance (CAFII).

The comprehensive Credit Protection Insurance (CPI) Segmentation Study surveyed more than 3,000 Canadians and reveals widespread financial stress alongside troubling gaps in protection confidence, even among those who already have insurance coverage.

The research, the first in Canada to map behavioural segments among current and potential CPI customers, found that 44% of mortgage holders report the current economic situation is negatively impacting their personal finances, while 57% have concerns about job loss in the next 12 months.

Perhaps most concerning: 50% say they would have serious problems paying bills if their main earner were unable to work.

Despite widespread insurance ownership, Canadians lack confidence in their existing safety nets. The study found that 35% don’t know how long their life insurance policy would last if needed, while only 38% feel confident they could pay their mortgage if the main earner lost income.

Even among those who believe they have sufficient life insurance (73%), experts note this confidence appears emotional rather than informed.

“This study shows a troubling contradiction: Canadians know they’re vulnerable, yet many remain underinsured or uncertain about the protection they do have. Only 38% feel confident they could cover their mortgage if the main earner lost income, and more than a third don’t even know how long their life insurance would last,” said Keith Martin, Executive Director, CAFII.

“With average household debt levels so high, these blind spots leave families exposed at the worst possible time. The challenge for our industry is not just providing insurance, but making sure Canadians understand and trust the protection available to them.”

The research identified five distinct consumer segments, with two groups standing out as having the greatest need for protection and support:

• The Confident Planner (26% of mortgage/Home Equity Line of Credit holders): Despite strong financial positions, this segment values CPI for asset protection, with 45% likely to purchase or renew coverage.
• The Anxious Realist (25% of mortgage/Home Equity Line of Credit holders): Struggling with affordability but standing to benefit most from protection, with 27% likely to purchase or renew despite financial constraints.

Together, these two segments represent 46% of the mortgage holders and point to clear gaps in confidence and coverage that leave many families financially vulnerable.

The study reveals that even among current CPI holders, concerns persist: only 30% agree the product provides good value for money, and just 29% find it affordable or trust it more than other insurance types. Among non-holders, 41% cite expense-related reasons for not having CPI, while 40% indicate lack of perceived need.

Communication gaps also make it harder for consumers to make informed decisions. Only 39% of non-holders recall being informed about CPI options, while 24-32% of non-holders don’t know enough to rate basic product attributes.

Although some mortgage and Home Equity Line of Credit holders have CPI (29% and 22% respectively), important gaps remain especially in job loss protection. Only 66% of mortgage-related CPI includes job loss coverage, compared to 94% for life coverage. The gap is particularly pronounced among those over 40, with only 48-54% having job loss protection compared to 79-95% of those under 40.

Most Canadians learn about Credit Protection Insurance from banks and credit unions (67%), and more than half of purchases (53%) take place there. However, the research found that 48% of non-holders were advised against CPI by financial professionals, highlighting that consumers may be receiving mixed messages and need better support in making informed choices.

Canadians are most likely to explore protection options when their finances feel stretched. Nearly half (44%) of respondents said they would consider CPI if bills became hard to manage, while others pointed to economic uncertainty, rising cost of living and major life events as moments when insurance feels most relevant.

“This research provides the CPI industry with a roadmap for better meeting the needs of financially vulnerable Canadians,” continued Martin. “The opportunity exists to close protection gaps, improve communication, and demonstrate value, particularly during life transitions and economic stress when families need protection most.”

https://kingsvilletimes.ca/2025/11/national-study-finds-mortgage-holders-face-rising-financial-vulnerability/

_{By Kate McCaffery, Insurance Portal}

New research conducted by Pollara and commissioned by the Canadian Association of Financial Institutions in Insurance (CAFII) makes a number of findings – about Canadians’ concerns about job loss, their insurance coverage and where they get their information – and notes that financial professionals are often advising Canadians against the use of credit protection insurance (CPI).

The July 2025 survey of more than 3,000 mortgage and home equity line of credit (HELOC) holders found that half could maintain their lifestyle for less than six months without their primary income. The Credit Protection Insurance (CPI) Segmentation Study “reveals widespread financial stress alongside troubling gaps in protection confidence, even among those who already have insurance coverage,” they write.

Notably, 57 per cent said they have concerns about job loss in the next 12 months. They say concern is highest among

younger adults, households with children under 18, immigrants coming to Canada within the last nine years and those in Quebec.

The research looks at the average mortgage held (over $200,000) and when mortgage holders expect to have this debt paid off.

Confidence may be more emotional than informed 
Regarding insurance uptake, they say few considered insurance to be unimportant, but only half said it was very important. “A majority had life insurance, often provided by employer benefits. While more feel they have enough insurance, this confidence may be more emotional than informed, as many can not say how long it would last,” they write.

The report also looks at personal financial concerns, how often survey respondents made payments into savings, debt, investments and time horizons and financial literacy. It additionally looks at advisor usage and at clients’ sources of information.

“Knowledge is highest when it comes to managing money and debt, but lower when it comes to planning, investing or insurance. That said, less than half feel very knowledgeable on any topic,” the report states.

30% held creditor protection insurance for mortgage 
About three in ten held CPI for their mortgage while roughly one in five held it for their HELOC. “Research found that 48 per cent of non-holders were advised against CPI by financial professionals, highlighting that consumers may be receiving mixed messages and need better support in making informed choices.” 

They also say the majority of survey respondents had life insurance but coverage varied by source: 47 per cent had it through employer benefits while 41 per cent said they had a personal policy. “Among those insured, term (24 per cent) and whole life (23 per cent) are most common, while one in four (25 per cent) are unsure what type of policy they hold,” they note.

https://insurance-portal.ca/article/consumers-may-be-receiving-mixed-messages-about-credit-protection-insurance

_{By Liezel Once, CMP}

Half of mortgage holders could not maintain their lifestyle for six months without their main income

A new national study has revealed that Canadian mortgage holders are facing growing financial vulnerability, with many lacking confidence in their insurance coverage despite widespread ownership.

The Pollara Credit Protection Insurance (CPI) Segmentation Study, commissioned by the Canadian Association of Financial Institutions in Insurance (CAFII), surveyed more than 3,000 Canadians in July and found that half of mortgage holders could only maintain their lifestyle for less than six months if their primary income disappeared.

The research, the first in Canada to map behavioural segments among current and potential CPI customers, painted a stark picture of household resilience.

Forty-four percent of mortgage holders reported that the current economic climate had negatively affected their personal finances, while 57% expressed concerns about job loss in the coming year.

“This study shows a troubling contradiction: Canadians know they’re vulnerable, yet many remain underinsured or uncertain about the protection they do have,” Keith Martin, executive director of CAFII, said.

“Only 38% feel confident they could cover their mortgage if the main earner lost income, and more than a third don’t even know how long their life insurance would last.”

Confidence crisis and coverage confusion
Despite 73% of respondents believing they have sufficient life insurance, only 38% felt confident they could pay their mortgage if the main earner lost income.

The study flagged that 35% of Canadians did not know how long their life insurance would last if needed—a gap that experts described as “emotional rather than informed” confidence.

Opportunity segments and persistent barriers
The study identified five consumer segments, with two groups—Confident Planners and Anxious Realists—standing out for their need for better protection.

While 45% of Confident Planners were likely to purchase or renew coverage, only 27% of Anxious Realists, who struggle with affordability, said the same.

Affordability and trust remain major barriers: just 30% of current CPI holders agreed the product provided good value, and only 29% found it affordable or trusted it more than other insurance types.

Among non-holders, 41% cited cost as a reason for not having CPI, and 40% pointed to a lack of perceived need.

Job loss protection and industry response
Coverage gaps were especially pronounced in job loss protection. Only 66% of mortgage-related CPI included job loss coverage, compared to 94% for life coverage.

The gap widened among those over 40, with only 48–54% having job loss protection, compared to 79–95% of those under 40.

Most Canadians learned about CPI from banks and credit unions, but the study found that nearly half of non-holders were advised against CPI by financial professionals, highlighting the need for clearer communication.

Martin said, “The opportunity exists to close protection gaps, improve communication, and demonstrate value, particularly during life transitions and economic stress when families need protection most.”

https://www.mpamag.com/ca/mortgage-industry/industry-trends/canadian-mortgage-holders-face-rising-financial-stress/557036

_{By Steve Randall, Wealth Professional}

New study shows nearly half of mortgage-holders could last less than six months without income

Many Canadians are risking their most valuable asset by being underinsured, leaving them vulnerable if they were to lose their income.

A newly released survey reveals a worrying financial picture for many homeowners with mortgages or HELOCs who, even with insurance coverage, remain financially exposed. Half of these households believe they could not maintain their lifestyle for more than six months if their main income source disappeared.

The study, commissioned by the Canadian Association of Financial Institutions in Insurance (CAFII) and conducted by Pollara, also found that 44% of respondents say the current economic climate is hurting their finances, while 57% worry about job loss in the coming year.

Although insurance is widespread, many homeowners are unsure of how well they’re actually protected. Only 38% feel confident they could keep paying their mortgage if the primary earner lost income, and just 35% know how long their life-insurance coverage would last.

“With average household debt levels so high, these blind spots leave families exposed at the worst possible time,” says CAFII’s executive director Keith Martin. “The challenge for our industry is not just providing insurance, but making sure Canadians understand and trust the protection available to them.”

The study grouped borrowers into five categories, with two standing out: the “Confident Planner,” representing 26% of respondents and showing strong financial footing and a higher likelihood of purchasing coverage, and the “Anxious Realist,” at 25%, feeling pressured financially but still seeing the need for protection. Together they account for almost half the participants and reflect substantial gaps in preparedness.

Although 29% of mortgage holders and 22% of HELOC borrowers have credit-protection or similar insurance, many question whether it is worthwhile. Only 30% of those with coverage believe the product offers good value, and fewer than one third consider it affordable or more trustworthy than other insurance. Among those without coverage, 41% cite cost as a barrier, while 40% say they don’t see its relevance.

Consumer awareness is also limited. Just 39% of mortgage or HELOC holders without CPI recall being informed about it, and about a quarter to a third say they received too little information to even judge key product features.

https://www.wealthprofessional.ca/investments/alternative-investments/hidden-financial-crisis-insured-canadian-homeowners-found-alarmingly-vulnerable/390865

Une étude de Pollara, commandée par l’ACIFA, révèle de graves lacunes concernant la connaissance et la confiance relatives à la protection, et met en évidence les possibilités pour le secteur d’offrir de meilleurs services aux familles en situation de vulnérabilité financière.

TORONTO (ONTARIO) [18 novembre 2025] — La moitié des détenteurs canadiens d’un prêt  hypothécaire ne pourraient pas maintenir leur mode de vie pendant plus de six mois sans leur  revenu principal. Cette conclusion ressort d’une étude novatrice, publiée aujourd’hui, et réalisée  par Pollara à la demande de l’Association canadienne des institutions financières en assurance (ACIFA). L’étude détaillée sur la segmentation en assurance protection de crédit (APC) a  compris un sondage auprès de plus de 3 000 Canadiens. Elle révèle un stress financier  généralisé ainsi que des lacunes préoccupantes quant à la confiance envers la protection,  même chez les personnes qui bénéficient déjà d’une couverture d’assurance. 

Cette étude, la première au Canada à définir les segments comportementaux parmi les clients  actuels et potentiels d’APC, a révélé que 44 % des détenteurs de prêts hypothécaires déclarent  que la situation économique actuelle nuit à leurs finances personnelles, tandis que 57 %  craignent de perdre leur emploi au cours des 12 prochains mois. Un détail peut-être plus  inquiétant encore : 50 % déclarent qu’ils éprouveraient de graves difficultés à payer leurs  factures si leur principal soutien financier ne pouvait plus travailler. 

La crise de confiance 

Malgré le fait que de nombreux Canadiens détiennent une assurance, peu ont confiance dans  leurs filets de sécurité actuels. L’étude a révélé que 35 % des répondants ne savent pas  combien de temps leur police d’assurance vie durerait en cas de besoin, tandis que seulement  38 % se disent confiants de pouvoir rembourser leur prêt hypothécaire si le principal soutien  financier perdait son revenu. Les experts soulignent que, même parmi les répondants qui 

estiment disposer d’une assurance vie suffisante (73 %), cette confiance semble reposer  davantage sur des émotions que sur des données factuelles. 

« Cette étude révèle une contradiction troublante : les Canadiens savent qu’ils sont vulnérables,  mais un grand nombre d’entre eux restent sous-assurés ou incertains quant à la protection dont  ils bénéficient. Seulement 38 % des répondants se disent sûrs de pouvoir rembourser leur prêt  hypothécaire si le principal soutien financier perdait son revenu, et plus du tiers ne savent  même pas combien de temps leur assurance vie durerait », a déclaré Keith Martin, directeur  général de l’ACIFA. « En raison du niveau d’endettement moyen très élevé des ménages, ces  angles morts exposent les familles à des risques au pire moment possible. Le défi pour notre  secteur ne consiste pas seulement à fournir des assurances, mais aussi à faire en sorte que les  Canadiens comprennent la protection qui leur est offerte et y accordent leur confiance. » 

Occasion auprès de deux segments principaux 

La recherche a permis de définir cinq segments distincts de consommateurs. Parmi ces  segments, deux se démarquent par leur besoin accru de protection et de soutien. 

● Les « planificateurs confiants » (26 % des détenteurs de prêts hypothécaires/MCH) :  malgré une situation financière robuste, les personnes de ce segment reconnaissent la  valeur de l’APC comme moyen de protéger les actifs, et 45 % sont susceptibles de  souscrire ou de renouveler une assurance. 

● Les « réalistes anxieux » (25 % des détenteurs de prêts hypothécaires/MCH) : les  personnes de ce segment éprouvent des difficultés liées à l’abordabilité, mais sont  celles qui bénéficieraient le plus d’une protection. Ainsi, 27 % d’entre elles sont  susceptibles de souscrire ou de renouveler une assurance malgré leurs contraintes  financières. 

Ensemble, ces deux segments représentent 46 % des détenteurs de prêts hypothécaires et  révèlent des lacunes évidentes en matière de confiance et de couverture, qui rendent de  nombreuses familles vulnérables sur le plan financier.  

L’abordabilité et la confiance restent des obstacles 

L’étude révèle que même parmi les détenteurs actuels d’une APC, les inquiétudes persistent.  En effet, seulement 30 % de ces personnes estiment que ce produit offre un bon rapport  qualité-prix, et seulement 29 % le trouvent abordable ou lui font davantage confiance qu’aux  autres types d’assurance. Parmi les non-détenteurs, en ce qui concerne les raisons de ne pas  détenir d’APC, 41 % citent les coûts, tandis que 40 % indiquent qu’ils n’en voient pas l’utilité. 

Les lacunes en matière de communication limitent également la capacité des consommateurs à  prendre des décisions éclairées. Seulement 39 % des non-détenteurs se souviennent avoir été  informés de l’option d’APC, tandis que de 24 % à 32 % des non-détenteurs ne connaissent pas  suffisamment le produit pour en évaluer les caractéristiques de base. 

Écarts concernant la protection contre la perte d’emploi

Si certains détenteurs de prêts hypothécaires et de MCH (respectivement 29 % et 22 %) ont  souscrit une APC, d’importantes lacunes subsistent, notamment en matière de protection contre  la perte d’emploi. Dans le cas des APC pour prêts hypothécaires, seulement 66 % comprennent  une couverture en cas de perte d’emploi, tandis que 94 % comprennent une couverture en cas  de décès. L’écart est particulièrement marqué chez les plus de 40 ans, puisque seulement 48 %  à 54 % d’entre eux bénéficient d’une protection contre la perte d’emploi, comparativement à  79 % à 95 % chez les moins de 40 ans. 

Les institutions financières sont déterminantes 

La plupart des Canadiens découvrent l’assurance protection de crédit auprès des banques et  des coopératives de crédit (67 %), et plus de la moitié des souscriptions (53 %) sont effectuées  à ces endroits. Cependant, l’étude a révélé que 48 % des non-détenteurs avaient été dissuadés  par des professionnels des finances de souscrire une APC, ce qui souligne que les  consommateurs peuvent recevoir des messages contradictoires et ont besoin d’un meilleur  accompagnement pour faire des choix éclairés.  

Priorité à la prise de décision 

Les Canadiens sont le plus susceptibles de se renseigner sur les options de protection lorsqu’ils  éprouvent des difficultés financières. Près de la moitié (44 %) des répondants ont déclaré qu’ils  envisageraient de souscrire une APC si leurs factures devenaient difficiles à gérer, tandis que  d’autres ont cité l’incertitude économique, l’augmentation du coût de la vie, et les événements  majeurs de la vie comme des moments où l’assurance semble la plus pertinente.  

« Cette recherche fournit au secteur de l’APC une feuille de route pour mieux répondre aux  besoins des Canadiens vulnérables sur le plan financier », a poursuivi M. Martin. « Nous avons  la possibilité de combler 

les lacunes en matière de communication et de démontrer la valeur des assurances, surtout  pendant les périodes de transition de la vie et les moments de stress économique, lorsque les  familles ont le plus besoin de protection. » 

À propos de l’étude 

L’étude sur la segmentation en APC de Pollara a été menée en juillet 2025 auprès d’un  échantillon représentatif de plus de 3 000 détenteurs canadiens de prêts hypothécaires et de  MCH. Cette étude a permis de définir cinq segments distincts de consommateurs et d’analyser  leur vulnérabilité financière, leurs besoins en matière de protection, leurs comportements en  matière de souscription, et leur attitude envers l’assurance protection de crédit. 

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Au sujet de l’ACIFA

L’Association canadienne des institutions financières en assurance (ACIFA) est une association sectorielle à but non lucratif qui se consacre au développement d’un marché de l’assurance ouvert et flexible. L’ACIFA croit que les consommateurs sont mieux servis lorsqu’ils ont un choix significatif dans l’achat de produits et services d’assurance. Les 14 membres de l’ACIFA sont notamment les branches d’assurance des principales institutions financières du Canada – BMO Assurance, Assurance CIBC, Desjardins Assurances, Banque Nationale Assurances, RBC Assurances, Assurance Scotia et TD Assurance ainsi que les principaux acteurs de l’industrie : Assurant, Assurance-vie Canada, Banque Canadian Tire, Chubb du Canada Compagnie d’assurances, CUMIS Services Incorporated, Manuvie (La Compagnie d’Assurance-Vie Manufacturers), et Securian Canada.

Pour obtenir de plus amples renseignements ou pour toute demande des médias, veuillez communiquer avec la personne-ressource suivante :

Personne-ressource : Wendy Bairos, conseillère pour les médias
Courriel : wendy.bairos@cafii.com
Téléphone : 416-831-9820

_{By Kate McCaffery, Insurance Portal}

Anew report focused on the credit protection insurance (CPI) industry has found that 70 per cent of a global sampling of CPI insurers say legacy systems are the biggest hurdle to modernizing digital experiences and artificial intelligence (AI) driven underwriting.

Entitled Exploring Emerging Technology & Gen AI Trends in CPI, the report is a culmination of research by Deloitte, commissioned by the Canadian Association of Financial Institutions in Insurance (CAFII).

https://insurance-portal.ca/article/opportunities-for-modernization-exist-in-credit-protection-insurance