Yes, and it has an double indemnity clause for paying double if death is by accident. However, since Michael Schiavo is in an adulterous relationship fathering children with another woman, it is questionable that the ghoul will receive a cent upon Terri's death! Is that true? I've never heard of an "adultery" clause in a life insurance policy. However, if MS were to divorce Terri as her parent's have requested, then he may not be entitled to the life insurance benefits. In any case, the possibility of another large infusion of ca$h via insurance benefits is certainly a compelling reason to say that MS does not have Terri's best interests in mind.
Bigamy may preclude his ability to collect on killing Terri. Insurance companies are tough to get money out of if they believe the law is on their side!