You don't want an ejection seat on your MiG because the FAA says you have to have Russian approved maintenance and inspections according to all the Russian maintenance manuals / directives and then a few more hassles. Just get a airframe parachute like a Cirrus owner, pull the chute!!
Personally, speaking as someone with limited assets and no responsibilities like children why would I get insurance at all? Hull insurance is going to be more than the hull is worth, or close, and liability insurance? Do I expect so survive a crash? If not, then why do I care how insolvent my estate becomes? I do not think there is an equivilent must carry liability insurance on airplanes that all states have for automobiles, after all...