Nearly always in the event of an engine failure or an unrecoverable attitude; which may be a spin.

Cirrus’s transition training emphasises pulling the chute - the seats and airframe are designed to absorb the vertical impact and protect the people on board. Most other aircraft you learn to pick a field to glide into, or do spin / unusual attitude training to recover from them. The chute is essentially a get out of jail free card for when you don’t have the options for any of those things.