Yes.
Unless your life insurance policy specifically excludes certain activities; such as, bungee jumping, your death resulting from bungee jumping should be a covered cause of loss, and a death benefit should be paid out to your beneficiary.
However, some insurers may issue life insurance policies that exclude specific high risk activities, which is why you should review your life insurance policy to make sure what is and is not covered by your policy.
Learn more about term life insurance for bungee jumping.