No. Life insurance is only one kind of property that a person may own and a will is necessary to dispose of other assets that a person owns at death.
If a life insurance policy is payable to an individual, the will of the insured has no effect on the proceeds. If the policy is payable to the estate of the insured, the disposition of the proceeds may be directed by the will. Life insurance can be useful in providing cash at death for payment of taxes and expenses, but like most strategies for insurance, the careful person will consult a lawyer, a life insurance counselor, and a financial advisor for proper estate planning. Mistakes in ownership and beneficiary designations in these policies can cause great increases in estate taxes owed.
For help or answers to will and estate related questions, you can contact BaskinFleece at 727.572.4545.