Think price, shiekh.
Second, think necessity.
Momma's a lot more capable of burning her power cord with a clothes iron, than a
tech is with burning his soldering iron power cord.
Yeah, teflon insulated wire is much more heat resistant, but it's costly, and probably
considered unnecessary.
If your working area is set-up in such a way that a particular spot along your iron power
cord is susceptable to touching the heated iron tip, consider wrapping the length of
the susceptable cord with fiberglass tape, I use that a lot with thermocouple wire
protection in high heat applications.
First though, I'd consider moving my iron power unit somewhere else on the bench,
that'll help keep the iron power cord out of harms way.