DIY Heatshrink Cable Lug Covers

I wanted a way to make cable lugs a bit more touch safe. While it is best practice not to have live cable lugs waving about loose, accidents can happen to the best of us, and a bit of forethought for potential accidents can go a long way.
My solution involves using a hollow punch to put a circular hole in a piece of heat shrink, and sealing one end of it with an impulse sealer (typically used for sealing plastic bags). Sealing one end of the heatshrink beforehand makes it easy to put the cable lug in position and have the holes line up.
If needed, after the heatshrink is applied a knife or good wire cutters can be used to remove additional material from the bottom side of the lug to allow for a proper connection.