I.e. If the plug were to disconnect, there would still be live a/c current on the wire and therefore it needs both to be insulated and fit the oem connectors.
As an interim solution, I see two possibilities:
1. Use banana plugs with spring-loaded retractable sheaths. Examples of these, in no particular order:
Pomona 122505A
Electro PJP 1061-S
Mueller Electric BU-3261410
Stäubli X-GL-438, XZGL-410 and XZGL-425
2. Perform a reversible conversion from the square sheathed banana jacks to round sheathed banana jacks. There exist adapters to convert unsheathed banana jacks to safety banana jacks. They are basically a safety banana jack with a special knurled, forked banana plug, which use a set screw to spread the knurled plug so that it cannot be pulled out.
Example: Stäubli A-SLK4 series. The A-SLK4-S would even retain compatibility with the square-sheathed banana plugs.
Of these two approaches, I prefer the second one as it is safer, since you can use standard, fixed-sheath safety banana plugs. With the retractable ones, there’s still a risk of contact, even if it is vastly reduced compared to unsheathed plugs.