I've got pretty decent Loss of Income (similar to Loss of Licence) cover from a Life Insurance company.
Be careful of the wording, loss of
income is a permanent disability preventing you from working in any capacity (not just flying). The MBF with AFAP is a Loss of
Licence, so you only need to permanently loose your aviation medical and you are paid out. Assuming your injury or illness is such that you are still capable of working (just not flying) then you can find a new career and have $500,000 to help you on the way.