The daily grind of demanding bosses, deadline pressures and difficult colleagues can cause you to have higher than desirable stress levels. While it's no secret that stress can kill, often a result of increased blood pressure and chances for heart disease, most Canadians try to find a balance between work, family and social life in order to offset or minimize the effects of stress on their health.
For many Canadians, stress resulting from work is the main health issue when it comes to their jobs. Unfortunately, there are many who need to consider much more. In 2005, according to the Centre for the Study of Living Standards there were 1,097 workplace fatalities in Canada. In addition to this fact, where you do your job, seems to be a factor. Of those killed across Canada in 2005, the highest, on the job death rate was in the Territories, with 27.4 deaths per 100,000 workers-four times the 2005 Canadian national average of 6.8 deaths per 100,000 workers.
So, according to the study, the following is the ranking of workplace fatalities by jurisdictions in Canada:
- The Territories (NT, NU, YT) - 27.4 deaths per 100,000 workers
- Newfoundland & Labrador - 11.7 deaths per 100,000 workers
- British Columbia - 8.9 deaths per 100,000 workers
- Alberta - 8.0 deaths per 100,000 workers
- Ontario- 6.5 deaths per 100,000 workers (below national avg.)
- Nova Scotia - 6.1 deaths per 100,000 workers (below national avg.)
- Quebec - 6.0 deaths per 100,000 workers (below national avg.)
- Saskatchewan - 5.6 deaths per 100,000 workers (below national avg.)
- Manitoba - 4.5 deaths per 100,000 workers (below national avg.)
- New Brunswick - 3.4 deaths per 100,000 workers (below national avg.)
- Prince Edward Island - 1.5 deaths per 100,000 workers (below national avg.)
Even if you look at Canada as a whole and compare us with other countries, we are not fairing that well; Canada was number 5 on the list of highest workplace fatalities. In 2003 with 6.1 deaths per 100,000 workers, we were only safer on average than Korea (29.0), Turkey (20.6), Mexico (12.0), and Portugal (8.7).
On an individual level, you might be thinking, what does all this mean to me? You may have told yourself that you have taken into account where you live, the job you do and the safety precautions you make, and so, there is nothing else you can do, right? Accidents and unforeseen events will happen, no matter what, but you can still help those people who depend on you. So the next thing that you should add to your preparedness list is life insurance, which can help the ones you love, should the unthinkable happen to you.
When accidents or illness happen, life insurance can help
Life insurance can help you financially protect your loved ones should you die during your working years. It's also a key component to a well-designed financial plan.
You should seriously consider life insurance if:
- You're married
- You have children
- You have parents and/or other family members who depend on your income
- You have a mortgage
- Your retirement savings or other accounts won't adequately support your loved ones
- You are self-employed
- You have debts like car loans or credit cards which would be a financial burden to your survivors if they didn't receive financial support
Life insurance provides you with customized coverage for your family's and loved one's needs. Get and compare life insurance quotes for Term 10, Term 20 or Term to 100 online instantly and round out your financial plan today.
Read more about workplace fatalities in Canada.