The Cirrus Airframe Parachute System (CAPS) is for extreme emergencies. It has an excellent record of allowing people to walk away from some very dangerous situations.

Watch the Coast Guard video of a ditching 253 miles off Maui. The pilot had an emergency and the Coast Guard instructed him to fly to a nearby cruise ship that was standing by. The pilot, who was alone, deployed the parachute and was picked up by the ship.

The plane was lost, but the pilot was fine - he didn't even lose his sun glasses.