Presumably once it's deployed you lose all control, and land wherever, which might be okay if you land on a field, but what about a lake?
Presumably once it's deployed you lose all control, and land wherever, which might be okay if you land on a field, but what about a lake?
Of the ~100 Cirrus parachute deployments to date, about 15 planes were repaired and put back into service. There were about 150 survivors and 1 fatality in those deployments. Cirrus says deployments have never failed when the system was being used within limits. I wasn't able to find the circumstances of that death, but the numbers show that yes, the parachutes are reliable.
As you point out, they can't protect you from whatever you land on -- lake, volcano, piranhas, etc.
But also I assume if it did land on water - you might have a short amount of time to get out. At least you're not crashing into the water at 100 mph.
[0]: https://www.quora.com/Can-a-passenger-airplane-glide-if-all-...