You should also think about your super fund, or fish around for a good one now that we don't HAVE to be in an industry APPROVED fund.
Many of them have little loading for rotary types and for a very small extra per week you can upgrade to a few units extra for the life cover.
Usually it's up to four units without a medical and from then on I think with some you can go to twelve units. 12 times fifty or so is a fair whack and it can be downgraded on the run.
I was with ARF once, that's the Australian Workers Union super fund, it was good, and cheap. Each unit of life cover was only one dollar per week extra. A very good deal.
A membership of the Paraplegic Benefits Fund (of which I have no vested interst, check it out on the web) might also be worthwhile. For a very small sub you get, upon a positive diagnosis, a cheque for 100K. That is designed to buy wheelchairs, motor car and house mods and maybe pay off a couple of HP or mortgage items that are laying around.
I mean just look at the Gold coast incident, how close were those five people to becoming wheel chair bound. it costs me about 400 bucks per year and i have a big mob covered, pilots their families, engineers doing strobing etc.
cheers tet