Right, but (at least in normal aircraft) an engine-out situation doesn't (usually) immediately mean "pull the chute right now or we'll die". Instead the chute a

Right, but (at least in normal aircraft) an engine-out situation doesn't (usually) immediately mean "pull the chute right now or we'll die". Instead the chute a last resort where the the alternative is unpleasant enough that you're willing to trade your aircraft to avoid it (e.g. you're staring down a situation where the aircraft will be destroyed anyway--think going down in trees, mountain cliffs, buildings, water, ...). In other words, in a normal aircraft you still have options when you lose power.