Yes it would - either through the free syscall or a process exit. This is a defense in depth strategy and not 100% perfect. If you yanked the power cord and a long lived process had sensitive data in memory you're still vulnerable. But if you had a clean power down or very short lifetimes of sensitive data being active in RAM it would afford you additional security.
I think it’s a little bit of column A and a little bit of column B, but admit while I remember reading about using technique a long time ago, I’m not sure of the history of the nomenclature. From the StackExchange:
> For those who think this is only theoretical: They were able to use this technique to create a bootable USB device which could determine someone's Truecrypt hard-drive encryption key automatically, just by plugging it in and restarting the computer. They were also able to recover the memory-contents 30 minutes+ later by freezing the ram (using a simple bottle of canned-air) and removing it. Using liquid nitrogen increased this time to hours.