For instance, if the cause of death was suicide it would not be covered, because suicide is excluded for 2 years, one year in Colorado.
In addition, if the life insurance plan was a graded benefit policy, the beneficiary would only receive the premiums paid, since full coverage would not be available until after the insured owned the life insurance plan for at least 2 years.
However, if the cause of death was within the coverage terms of the policy and not excluded, and the life insurance plan was a whole life insurance or term life insurance, not a graded benefit policy, the beneficiary would probably receive the death benefit.