The overall value of the vessel (both cash and time investment) is too damn high to lose on death. Being compared to EVE, it's much easier to die in FL - try alt-tabbing in snub for a few mins at your house's space.
So no, that's bad idea.
Cash penalty would work though. Like, from 30K to 4M, depending on a level and/or ship's value.
[11:20:20] aerelm: its not fl dev work if you dont have to power through the whole thing on your own
[11:20:32] aerelm: help is for pussy devs like in dota
