hi afif, in terms of "loss of license" insurance, i won't be able to shed more comments on that since i have never come across plans that cover that. for your friend's coverage, it's very depending on when he bought it, how many years the plan covers him for, is it a term or ilp, occupation, smoker/non smoker, etc. Can only share more if he is willing to tell you all the details and show you the plan. if you are really keen on how much plan you wanna get, just let me know. i can plan something for you but you are not obligated to buy/apply anything.
hi fariz, indeed Cost of Insurance (COI) will increase as one ages. COI is not equivalent to premium ya. when your payable premium + cash value is not able to cover the COI of the plan, then only insurance company will increase your premium.

I have yet to heard of such term.

To make it simple for you, insurance nowadays are sold as term insurance or as investment linked policies which insurance company will invest part of your insurance premium to cover future cost of insurance.

Of course you can still opt for term insurance if you do not want to partake in any investment but you will be subject to pay an increasing annual premium as you grow older.

Also, insurance company will put more restriction for term insurance as compared to investment link policies for financial and health checks.
aviation company has their own specific insurance which covers for higher risk faced by pilots.

However, you can still get your personal coverage with the insurance company directly which is not subject to whatever you've mentioned on lost of license.
The cost of insurance will increase overtime as per the schedule written as you grow older.