Q. In Canada, what is a more likely cause of death for people of age 20 to 65?

The correct answer is:

Heart disease

 

Heart disease is one of the most likely causes of death among people age 20 to 65, according to Statistics Canada: Canada Year Book 1999, and accounts for about 30% of deaths among Canadian men age 45.

 

Nearly 95% of deaths are caused by illness!

 

What about the odds of death caused by motor vehicle traffic accidents & injury? The odds are significantly less. In fact, only an average 4.5% of deaths are attributed to accidents!

 

How does this affect life insurance premiums?

 

Because the odds of accidental death are very low, an "accidental death" policy will have a very low premium in comparison to a full life insurance policy.

 

Buyer beware!

 

If you are paying low premiums for your insurance plan, check to make sure it is not an "accidental death"-only policy. Otherwise you could be in danger of being grossly underinsured!

 

Tip of the week:

 

Never rely solely on accidental death insurance to protect your family's future. It may be significantly cheaper, but have you ever bought something cheap that was worthwhile? Don't gamble against all odds! If budget is very tight, consider obtaining a 10 year term life insurance plan that will cover nearly all causes of death (we say nearly because of certain industry exclusions, including suicide).

 

Next page >

 

Go to question #2.

 

 

 

Click a link below to jump to another related article:

 

Learn more about life insurance.

 

Learn more about critical illness insurance.

 

Learn more about disability insurance.