Half right. You must be upfront about what you do and intend to do at the time of underwriting, but if you then take up chain-smoking while surfing on a shark, that's your business. The insurer absorbs that as normal mortality. To put it in perspective, the biggest life policies are on the order of GBP50-100m (Warren Buffet types), and the industry absorbs one or two claims of this size every year. The real risk here is aggregation risk, the fact that you'll have a dozen millionaires on these flights. That's not an issue for the insurers, really, but it is for the reinsurers and their retro pools. But even losing the top ten insured lives is smaller than a billion dollar cat which again, is barely a rounding error in reinsurance.