Mortality drivers in Canada

From the leading risk to a threat on the rise: Here’s what you need to know

What are the most significant mortality drivers in Canada and how are they changing? Understanding leading causes of death in Canada can help underscore the need for insurance coverage. This article explores two significant mortality drivers: Cancer and metabolic syndrome. While advances in healthcare and medical technology are improving life expectancy overall, there are developments in mortality trends that are worth noting. In the realm of life insurance underwriting, a comprehensive understanding of mortality drivers is key to understanding and assessing risk.

Cancer: The leading cause of death in Canada

New data from Statistics Canada released earlier this year shows that cancer remains the most significant mortality driver in Canada, responsible for 25% of all deaths. Lung and bronchus, breast, prostate, and colorectal cancer are the four most diagnosed types, accounting for about half of new diagnoses annually¹Footnote 1 and impacting thousands of Canadians each year.

On the positive side, advancements in medical technology such as liquid biopsies have revolutionized cancer detection and management. Liquid biopsies analyze circulating tumour DNA in the blood, enabling earlier and less invasive cancer detection. This method holds promise for identifying cancers at stages where treatment may be more effective, potentially improving survival rates.²Footnote 2

However, while Canadians are benefiting from advancements in medical technology, we also contend with delays in treatment. According to the Fraser Institute, Canadians’ medical healthcare wait times have hit 30 weeks—the longest ever recorded.³Footnote 3 Wait time refers to the delay between being referred by a general practitioner (i.e., family doctor) to consulting with a specialist for treatment. Treatment delays can contribute to increased suffering, lost productivity, and potentially even death.

Finally, even with medical advancements, the financial implications of a cancer diagnosis —including treatment costs, loss of income, and long-term care, are on the rise. Critical illness insurance—which pays a tax-free, lump sum upon diagnosis of a covered condition--can help offset the costs. It’s a living benefit designed to help manage the financial impact of a life-threatening condition.

It’s important to note that advances in detection and treatment are reflected in how the insurance industry, and underwriters, approach specific types of cancer. For example, once a person has been classified as cancer-free for seven years, some may be approved as standard. Accurate diagnostic testing to determine cancer stage and type may help improve and speed this process.

Metabolic syndrome: A growing concern

One in five Canadians suffer from metabolic syndrome,⁴Footnote 4 which is defined as having at least three out of five health conditions that can increase your risk of cardiovascular disease, stroke, and Type 2 diabetes.⁵Footnote 5 Many of these conditions are on the rise, both in Canada and globally.⁶Footnote 6 Key factors contributing to the increase may include:

• Dietary factors and sedentary lifestyles: High consumption of processed food and lack of physical activity contribute to metabolic disorders.
• Rising obesity rates: The number of Canadians who are overweight or obese has increased steadily over the past 25 years. Obesity is a risk factor in several chronic diseases,⁷Footnote 7 and can increase the risk for Type 2 diabetes and heart disease.

It’s important to make note of promising developments and how the rise of GLP-1 medications is having a far-reaching and still developing impact. GLP-1 medications—the most well-known being Ozempic—are a class of drugs originally approved to treat Type 2 diabetes. There are several existing variations, and additional, newer medications are working their way through clinical trials. While these drugs have proven effective for treating diabetes, they are also popular for their ability to promote weight loss. Recent studies show they have potential to reduce cravings for drugs, cigarettes, and alcohol, and lower the risk of Alzheimer’s disease.⁸Footnote 8

While treatments show promise, metabolic syndrome and the diseases it causes remain critical risks. Diabetes and prediabetes, for example, impact 30% of Canadians and their prevalence is expected to rise. Although medication is having an impact on controlling diabetes, the disease remains a significant risk: Diabetes contributes to 30% of strokes, 40% of heart attacks, and is a leading cause of blindness.⁹Footnote 9

That said, the fact that insurance companies often approve people with both Type 1 and Type 2 diabetes for insurance underscores the fact that, with diligence, the disease can be managed. Underwriters look for details such as the medications people are taking, how stringently they follow diet recommendations and maintain a testing schedule, and the stability of test results that measure glycemic levels (blood sugar).¹⁰Footnote 10

The roles of life insurance in financial protection

The reality of these mortality drivers underscores the essential need for life insurance. While treatments are advancing all the time, from an actuarial perspective mortality improvements are tapering off. Whatever the cause, the financial implications of a premature death can be overwhelming. Life insurance, whether it’s term insurance to cover a set number of years, or permanent insurance, which provides coverage for life, can put a mechanism in place to ensure that dependents’ financial futures are protected.

Get started on solutions

Addressing health concerns is a long-term undertaking but there are steps you can take now to head in the right direction:

• The Canadian Cancer Society estimates that four in 10 cancer cases can be prevented through healthy living and policies that protect Canadians’ health.¹¹Footnote 11
• Consider steps like quitting if you’re a smoker, limiting alcohol intake, wearing sunscreen and sunglasses to protect yourself from the sun, and striving for a healthy body weight.
• Changes to diet and exercise can also help address metabolic syndrome and can cut down on the likelihood that it will progress to conditions like heart disease, stroke, or diabetes.¹²Footnote 12  If you are diabetic, be sure to follow prescribed medication carefully and monitor your blood sugar levels.
  
  

Finally, in addition to taking care of your physical health, there are steps you can take to protect your family’s financial health. Speak to an insurance advisor about how critical illness insurance and life insurance can help provide a financial safety net to cushion you and your family against very real issues on the rise.