Thought-provoking topic.
just to endorse what most posters have said, insurance shouldn't be a problem given either sympathetic insurers and / or a modicum of shopping around.
Risk? Well yes it's an issue. At 250 hrs there have been times when I have been scared and worried. But would I give it up because of that? No. I enjoy flying too much. So I think about risk the whole time to try to be as sure as I can that I don't kill myself (or anyone else). And I've insured myself up to the hilt. At least if I go West my wife and kids can say - he died doing what he wanted to most of all and he made sure we wouldn't suffer - financially at least...