I have no explicit references but I strongly doubt any such provisions were ever made unless the individual mariners themselves arranged for their own life insurance probably in
London.
I also suspect very very few of mariners at that time even knew what life insurance was and even fewer had the means to purchase it or the knowledge to find a reputable company to handle it.
I would suggest looking into the history of life insurance in general EG Wikipedia and then based on what you find digging into specific company history. Lloyds of
London seems an obvious candidate if they carried life insurance in those eras.
My ancestors in VA ca 1650 and beyond were mariners and tobacco related traders/growers. There is little history extant on these people at all certainly not to the level of any insurance policies info in my cases.
JD