Thanks for the feedback and I got some valuable pointers.
DWB50 you wrote that the HM Series Survivor is not TSO certified. I must admit that I thought it was. I tried to google the manufacturer but I can't get any information about the level of certification for that model.
As I understand the CASA requirements a life jacket must be either TSO or CAA(UK) approved, if the HM Survivors isn't ... wouldn't this be officially "flying without a life jacket"?
I didn't purchase the jacket yet, I enquired about other models that were mentioned here, and while I agree that it may save your life, I'm not a professional offshore pilot ... so not sure if a $350+ is necessary.
If somebody has some info on the HM surviver certification ... would be much appreciated.
Cheers!