Summary of CAFII’s Webinar with Lesli Martin, Pollara, on Credit Protection Insurance (CPI) Consumer Opinion Research with Pollara: What Are CPI Holders’ Views of the Product, Including Their Claims Experience?

On September 22, 2026, CAFII hosted a webinar titled Credit Protection Insurance (CPI) Consumer Opinion Research with Pollara—What Are CPI Holders’ Views of the Product, Including Their Claims Experience? CAFII’s Executive Director, Keith Martin, began the webinar by thanking all attendees and introducing CAFII’s Senior Research and Policy Analyst, Robyn Jenning, who then introduced Lesli Martin, Senior Vice President of Pollara.

A 20-year research veteran, Ms. Martin leads Pollara’s consumer insights and financial services divisions as well as its health affairs and reputation specialty practices. With a client portfolio spanning every sector, she specializes in uncovering the beliefs and motivational systems at the root of each relevant audience and illuminating the message themes that will provoke and inspire these targets, influencers, and stakeholders.

Prior to joining Pollara, Ms. Martin was a senior researcher and account lead at Leger and comScore, and led research departments at Sears, Cossette, and Great Gulf Homes. She has authored research-based articles in peer-reviewed medical journals such as Healthcare Quarterly, and her research has appeared in most Canadian newspapers as well as Marketing Magazine.  

After introducing Ms. Martin, R. Jennings extended a special welcome to several VIP guest attendees, including CAFII’s 14 member companies, 12 Associates, allied industry associations such as the Canadian Life and Health Insurance Association (CLHIA), the Travel and Health Insurance Association of Canada (THIA), and representatives from various insurance and financial services regulators and policy-making authorities, including the following:

• The Ministry of Finance, Government of Alberta
• The Autorité des marchés financiers, or AMF 
• The Ministry of Finance, Government of BC
• The Insurance Council of British Columbia
• The Canadian Association of Direct Relationship Insurers, or CADRI
• The Financial Services Regulatory Authority of Ontario, or FSRA
• LIMRA and LOMA Canada

R. Jennings explained that the webinar will share the results of the third iteration of a consumer study CAFII regularly conducts with Pollara to learn the views of holders of credit protection insurance products. CAFII conducts this study to understand what clients like about these products and what they feel could be improved. Understanding customers and their views is part of CAFII’s commitment to the fair treatment of customers and to continuous improvement.

Before detailing the results, L. Martin explained the study’s background and methodology. The study was conducted in April 2026 as an online survey. Pollara spoke with over 1400 adult Canadians who fell into the following three groups:

• Who have a mortgage or Home Equity Line of Credit and currently have Credit Protection Insurance (CPI): N= 1,007
• Who have a mortgage or a Home Equity Line of Credit and do not have Credit Protection Insurance (CPI): N= 475
• Who have made a credit protection insurance (CPI) claim: N= 484

This is a tracking study, with the first two iterations conducted in 2018 and 2022. Pollara conducted a similar study in 2021, but it focused on changes in purchasing behaviour due to the COVID-19 pandemic.

Among people with CPI, overall impressions were high in 2018 and 2022 and have increased substantially since then. More than 9 in 10 consumers feel CPI is convenient and effective protection, a rise since 2022. While value and affordability scored lower, three-quarters still rated CPI positively, up from 2022 (78% versus 66%). In fact, 76% of respondents agreed that CPI is an affordable insurance option, up from 69% in 2022. L. Martin clarified that value for money is difficult to achieve because, across industries, consumers will always want something cheaper and more convenient. This is not an indictment of the product or consumers. It is the nature of consumption; free is best. Lastly, 79% indicated they would not know what would happen to them or their families in an emergency if they did not have CPI.

Life insurance remains the most chosen CPI coverage, returning to 2018 levels after a drop in 2022 (82% in 2018; 74% in 2022; and 80% in 2026). Critical Illness and Job Loss coverage have steadily increased since 2018. Disability Insurance has remained stable across all three studies, at around 50%.

An audience member asked whether any of the results or statistics include credit card protection insurance. L. Martin explained that they do not; the study focused only on mortgages and Home Equity Lines of Credit.

Overall, a large majority of CPI holders feel confident in their understanding of their product and the level of coverage they will receive. This is especially true for Life Insurance, which rose from 84% in 2022 to 91% in 2026. Critical Illness has steadily increased, from 80% in 2018 to 86% in 2026. Confidence in Disability and Job Loss Insurance coverage has also risen:

• Disability Insurance: In 2022, 76% felt confident in their coverage; this rose to 85% in 2026.
• Job Loss Insurance: In 2018, 78% felt confident in their coverage; this rose to 87% in 2026.

Pollara asked CPI owners whether, if something happened and they needed to make a claim, they felt they would receive their desired outcome. Overall confidence in the service they would receive when submitting a claim was high and has increased since 2022.

• 86% felt they would receive the expected quality of service;
• 86% felt the information needed to make a claim would be clearly communicated;
• 82% felt the claim would be paid as expected; and
• 81% felt the claim would be paid in a timely manner.

While ease of submitting a claim scored somewhat lower, three-quarters (74%) reported high confidence in the process.

The next section of the study focused on customers’ purchase experience and satisfaction levels. CAFII added a new question to this section, not included in the two previous iterations, asking how much CPI coverage consumers selected. For mortgage holders, most respondents (74%) indicated CPI coverage for their entire loan, while 21% opted for partial coverage. For HELOC holders, 79% of respondents indicated total coverage for their loan, with only 16% opting for partial coverage. Of those who selected partial coverage, 39% of mortgage holders and 55% of HELOC holders explained that it made more financial sense.

Pollara asked respondents if a representative discussed CPI when they were acquiring their mortgage and/or HELOC. L. Martin noted that this question is perception-based, so although 77% said yes and 11% said no, this does not necessarily mean that 11% of representatives did not discuss CPI. It could mean that 11% of consumers do not recall it being discussed. This is reflected in the 13% who did not recall whether it was discussed. When asked what factors were discussed, the vast majority said coverage options, premiums and costs, and the product’s advantages were all discussed. When asked if they were told about the free review period, 65% recalled being informed; however, this number has increased since 2018 (44%) and 2022 (52%).

When asked how financial institutions communicated about CPI, most CPI holders said a representative informed them (80%).

Consumers are more likely to conduct further research besides talking to a financial institution representative. Pollara asked consumers whether they did any research, including talking to friends and family, online searches, etc. 74% said yes, up from 56% in 2022. This is an excellent finding for two reasons. First, this suggests consumers are doing more research to better understand the products they want to buy. Second, it suggests that, when they do research, consumers find the product worthwhile and necessary.

Pollara asked what was important when considering CPI. Below are just some of the factors mentioned:

• Benefits and features of the coverage: 96% consider this important in 2026; 93% considered this important in 2022 and 2018.
• Price: 95% consider this important in 2026; 94% considered it important in 2022; and 93% considered it important in 2018.
• Ease of overall purchase: 93% consider this important in 2026; 88% considered it important in 2022; and 89% considered it important in 2018.
• Convenience of obtaining at the same time as mortgage: 90% consider this important in 2026, while 83% considered it important in 2022.
• Coverage for pre-existing conditions: 80% consider this important in 2026; 76% considered it important in 2022; and 68% considered it important in 2018.
• Ability to buy online: 63% consider it important in 2026; 56% considered it important in 2022; and 48% considered it important in 2018.

L. Martin noted that coverage benefits and features have risen, and so has coverage for pre-existing conditions. People are interested in what the coverage will provide for them. Ease and convenience are also becoming increasingly important. As consumers buy more financial products online, it is unsurprising that the ability to purchase CPI online is growing in importance.

When asked where they purchased, most (80%) bought from a financial institution (bank or credit union). When asked how they purchased CPI, 53% bought in person at a branch. Online CPI sales, however, lag. 15% said they initiated the process online, including mobile, up from 11% in 2022, while 13% said they completed the whole process online, up from 9% in 2022.

Customers’ overall satisfaction with the purchase experience is high and has continued to rise; 94% reported high satisfaction in 2026, up from 87% in 2022 and 2018. 80% of respondents also reported high satisfaction with CPI’s value for money, up from 72% in 2022.

Consumers’ understanding of CPI documentation has increased. 78% of respondents said CPI documentation makes it easy to find information, up from 67% in 2022 and 2018, and 75% said it is easy to understand, up from 65% in 2022. This connects to the earlier finding that consumers are researching more and doing the due diligence to understand their financial products.

The survey then moved on to claims, noting that in 2026, more claim submissions were paid than denied. Pollara found that 34% of CPI owners made a claim. Of these, 18% were for mortgages, 8% for HELOCs, and 7% for both. Of processed claims, 90% were paid, up from 83% in 2022 and 78% in 2018. In fact, most processed claims resulted in payment, regardless of claim type. Pollara found that while payment for life insurance claims remained relatively stable at 90%, payments for critical illness claims increased to 91% from 70% in 2022.

Overall, 90% of customers were satisfied with their claim experience, up from 79% in 2022.

When looking at claimant satisfaction with all aspects of the claims process, Pollara saw a significant increase compared with 2022 and 2018 findings:

• Explanation about the steps involved in a claims process: 81% in 2026; 60% in 2022; and 69% in 2018.
• Explanation of how the claim payment was determined: 81% in 2026; 66% in 2022; and 64% in 2018.
• Clarity/completeness of rep’s responses to my questions: 80% in 2026; 61% in 2022; and 62% in 2018.
• Empathy/understanding the representative showed me: 80% in 2026; 62% in 2022 and 2018.
• Ease of understanding and completing the claim forms: 79% in 2026; 65% in 2022 and 2018.
• Explanation given of how long it would take to process the claim: 79% in 2026; 65% in 2022; and 69% in 2018.
• Documentation required in support of the claim was reasonable: 79% in 2026; 67% in 2022 and 2018.
• Ease of starting the claims process: 79% in 2026; 68% in 2022; and 64% in 2018.
• Knowledge of the representatives: 78% in 2026; 64% in 2022; and 69% in 2018.
• Timelines in which the claim was paid: 78% in 2026; 65% in 2022; and 66% in 2018.
• Number of claim forms that I had to submit was reasonable: 76% in 2026; 65% in 2022; and 70% in 2018.

These findings show that nothing in the claims process stands out as problematic or unsatisfying.

Over 70% of claimants felt various aspects of the claims process were easy. This is a new question, added this year, so Pollara has no tracking data. However, the findings indicated that 72% to 77% of claimants found the claims journey somewhat or very easy. 

When asked about the explanation for a claim’s outcome, 89% of respondents rated it as good or very good, up from 79% in 2022. Among those whose claim was denied, 61% were satisfied with the explanation, up from 40% in 2022.

Pollara asked respondents whether their claims and payment experience met, exceeded, or fell short of their expectations. Overall, 87% felt both their claims and payment experiences met or exceeded expectations, up from 74% in 2022. For those whose claim was denied, 49% felt their experience met or exceeded their expectations, up from 26% in 2022.

Moving on to complaints, L. Martin explained that Pollara reviewed complaints made during the claims process. 33% of claimants filed a complaint, matching the 2022 rate but up from 25% in 2018. Most filed their complaint with their financial institution (51%), while 35% filed it with their insurance company. 23% followed up with a supervisor or manager at their FI, while 22% followed up with an employee at their insurance company. Only 13% of claimants escalated their claim to a regulator.

The most common reason for a complaint in 2026 was the length of processing time. The second most common reason was a lack of updates during the process. However, 85% of claimants were satisfied with how their complaint was handled, up from 62% in 2022.

L. Martin concluded her presentation and opened the floor to audience questions.

R. Jennings asked L. Martin to speak further about customer satisfaction in general. She mentioned that 85% of customers who filed a complaint were satisfied with how it was handled, and noted the impact COVID had on consumers’ expectations. L. Martin explained that things have changed since COVID; people complain more. Pollara has seen this across industries: people feel they can complain more. This may be because of online platforms or changing expectations; regardless, it is true across sectors. In short, during and after COVID, people were angrier and scared. Pollara’s finding that satisfaction with complaint handling returned to 2018 levels is an excellent result and indicates that the insurance industry is moving in the right direction.

An audience member asked whether L. Martin knew why so many results were significantly higher than in the previous 2022 wave. L. Martin believes there are two possible explanations: consumers are either less involved or more involved in their insurance and financial planning. When people are more involved, do more research, and build confidence in their knowledge, they see their coverage as more important and impactful because they are more confident in their selection and purchase. A Pollara survey found that more consumers, in fact, are taking the time to research insurance, increasing their overall satisfaction. K. Martin added that when CAFII and its members learned of declining consumer satisfaction levels in 2022, they committed to addressing it at the member level. Part of the reason CAFII conducts these surveys with Pollara is to identify where improvements can be made, and that was one of them. CAFII’s members took that lower percentage seriously and made concerted efforts to address this issue.

Another audience member asked whether industry is seeing larger life claims due to illness and whether those claims have a younger average age. What is the leading cause of claims? Is it cancer? K. Martin responded that the survey did not include these questions. While cancer, heart attack, and stroke are the three major reasons for claims, the present study did not capture the distribution.

Did respondents indicate whether the challenges they experienced when submitting a claim were associated with online or digital platforms or manual processes? Pollara examined how claims were made; however, it did not explicitly inquire about the submission challenges. 27% of respondents said they submitted their claim face-to-face, while 26% said they submitted it through an online portal. Because the percentages are nearly identical across submission channels, L. Martin felt there may not be a significant difference in challenges, though the reasons for issues may vary. This is an area that Pollara could explore.

R. Jennings asked about the slow but steady increase in consumers using online claims platforms. L. Martin explained that Pollara asked consumers about their preferred method of obtaining CPI, and the responses showed that people still want contact, with 84% indicating they want a face-to-face interaction in 2026. Self-serve online platforms are increasing in use; however, they remain low at 13% in 2026. CPI and insurance in general are a contact game; people want to speak to another knowledgeable human.

K. Martin asked about economic pressures and how they have affected consumer spending habits. L. Martin explained that, in 2022, Pollara asked consumers about budgeting and expense planning. The survey found that 2/3 planned to cut back on eating out, and half planned to reduce retail shopping and travel spending. Pollara also asked about how economic conditions affected the likelihood of purchasing CPI. In 2022, 35% said they were more likely to purchase CPI now because of the economic conditions; in 2026, that number rose to 46%. People are beginning to see the value and protection CPI can provide for them and their families, especially amid job loss and economic uncertainty.

R. Jennings and K. Martin thanked L. Martin and concluded the webinar.