Commenting on the deaths of British IndyCar driver Dan Wheldon and Italian MotoGP rider Marco Simoncelli, Schumacher said motorsport safety had been "hugely improved."
But the seven-time F1 champion insisted all competitors accepted the inherent risk of serious accidents.
"If something has to happen, that is something I would call fate, and fate is something we are all faced with," Schumacher said.
"I am touched by what happened to both drivers but unfortunately we have to say that is life."
Wheldon was killed in a multiple-car collision in an IndyCar race in Las Vegas, while Simoncelli was killed in the MotoGP race in Malaysia last weekend when he lost control of his bike and slid into the path of two fellow riders.
"To have total safety that is impossible," Schumacher added. "I don't think when we drive we are thinking about putting ourselves in danger. When we push our cars to the limit, that is what we feel comfortable with."
Ferrari driver Fernando Alonso, a two-time world champion, said: "When you are driving, when you close the visor, you don't think about the risk. The love and adrenaline you have when you are driving blocks out the risk.
"The Dan accident I saw the replay, on the news, and I was shocked for two or three days. For Marco, it was live, I was watching the race. I did not believe Sunday and Monday still that this had happened."