I find it preposterous that any insurance company would pay any money in this case. If "willfully allowing her to die" doesn't void any life insurance, then I don't know what would.
From another thread -
CLEARWATER, October 23, 2003 - The motivation behind Michael Schiavo's dire quest to end the life of his severely disabled wife is not certain. He has a child and another on the way with another woman but a divorce would suffice in that case. However, there is the suggestion that he has life insurance money pending on her death - a suggestion which he has refused to comment on.