Will I die while cycling to work?

Look at it another way. As the probability of your death is 100%, then the probability of dying not whilst commuting to work is 99.5%

Or another way, that 0.5% is a lifetime risk, so given 40 years of commuting to work, that a risk of 0.0125% per year.

Or yet another way, population statistics are meaningless at the individual level.

What's "meaningless" about these examples? Seem to me perfectly understandable and equally surprising as the original result.