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Finding Details In Ontario, 48% of mortgage brokerage users and 59% of health and life insurance users indicated they did not know their rights and protections related to these financial products.

Sample size

  • 1,422

Initiative

Collection dates

  • March 04, 2022 to March 18, 2022

Adopter

Related priorities

This finding relates to the following National Financial Literacy Strategy priorities and target outcomes: 

Priority 6

Strengthen consumer protection measures

  • Target outcome 6.3
Related headlines
Headline

Many Canadians do not understand their rights with respect to financial products and services.

Credit card protection insurance is optional and can help cover balances in the event of life changes such as job loss or hospitalization. Knowing their rights can help consumers choose whether credit card protection insurance is right for them.

The analysis is based on research and the findings supplied by the adopters of the National Financial Literacy Strategy Measurement Plan. The related findings can be found at the bottom of this page.

Source: 2022 Consumer Research Study, Survey of Consumers' Awareness of their Financial Rights and Responsibilities
Related measures

The measure(s) below make up the Strategy-Aligned Measure (SAM) used to generate this finding. Please note that some SAMs require the use of multiple measures, while others work as a standalone measure. Refer to the Measures Library for more details.

Related

How familiar are you with the rights and protections you have as a customer in the Mortgage brokers sector?

  • Very familiar
  • Somewhat familiar
  • Not very familiar
  • Not at all familiar
Opens in new tabContribute findings and Strategy-Aligned Measures

The Financial Consumer Agency of Canada does not endorse, directly or indirectly, any adopters of the Measurement Plan, nor does it make any representations or warranties, express or implied, concerning the adopters' products or services or their fitness for a particular purpose.

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