If designed right - an external overflow with "U" tube or "J" tube will retain it's prime upon power loss.
One of the reasons some folks end up with wet carpet and an empty sump - is from using a return pump that is insufficient for the size overflow. Sometimes small air bubbles start to form in the the top curve of the U tube. You MUST insure adaquate flow through the siphon tube to help force these bubbles on through. Otherwise ..... you guessed it.