I'm sure there are many details about life insurance I do not understand, but I cannot see how a life insurance policy can dictate what type of flying you are doing in an aircraft in which you are otherwise insured to fly?
Aside from aerobatics conducted at extreme low altitudes, I cannot see how aerobatics are any more life threatening than regular flying. In either case you will be flying an airworthy aircraft within its designed limitations. The fact that the aircraft is in an unusual attitude need have little to do with the chance of dying in it. Why play to their fears?
Can the life insurance company support a different rate for aerobatic flying in an aircraft, when that same aircraft could be fatally used for controlled flight into terrain, or loss of control during inadvertant flight into IMC? (If you loose control in IMC and spiral in, would that not be aerobatics anyway? And you're covered?)
We pilots must assert our right to our chosen life pursuits without fear of being abandoned by other factions of society. If you're insured while flying an aircraft, the manuevers you fly (within design limitations) should not be further limited!
Pilot DAR