Yes and no, depending on wether or not you have the bios set to perform a function in the case of overheating.
Though i cannot think of a product with such a "fail safe" built in, i know that you can set the parameters for which the bios will shut off or throttle (depending on the MB - some have different options) the CPU
If i were in your shoes, i would closely monitor the temps and be sure, under load, what your absolute maximum is (with heater on, on a hot day - something like that) and set the bios temp monitoring safety features to just over this maximum. Not much more, but just enough so that if you test (by holding the fan or something, NOT THAT I WOULD EVER RECOMMEND THIS) and it proceeds to shut off the computer when that temp condition is met, then you will have a somewhat fail safe scenario precaution.
-Oh, and yes, most motherboards will tell you if the CPU fan has been disconnected or stopped, but unfortunately will not do this for other fans (unless otherwise built into the bios of a particular board).
I also just noticed you said you have a front panel fan monitor - if it is digital, you can usually configure it to perform the same function as a fan alarm going off when a fan has stopped or slowed to a certain speed.