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The Golden throne is a Hybrid of life support/Statis field. The Emperor will absolutely never die while attached to the throne.
The Emperor being bound to the throne mean's nothing, his conciousness is fragmented and split dozens of times. This is outlined in Inquisition wars. His mind is fragmented so he can devote his attention to many things.
I personally believe the Emperor is a perpetual like Vulcan, but if he died momentarily the webway he was constructing on Terra would collapse and the warp would burst forth from this Gate that he had created and annihilate Terra, possibly even the sol system.
Plus there is the concept that he is the only thing that is holding Chaos at bay in General, Fleets would be lost without the Astronomican.
Basically if he died, even for a few minutes....he would lose everything.
Just something to think about. In his final instructions, before his interement in the Golden Throne, the Emperor mentions himself that he would never walk amongst [men] again BUT his psychic powers would return with time.
That tells me that his body is not actually needed for him to retain his psychic consciousness, powers or prowess.
Then again, it's all speculation.