You should! It will help in the case of a dispute between your insurance nominee and the person you actually want to provide the insurance payout to.The Will will bypass any nominee and it will ensure that the person mentioned in the Will will get the insurance payout.There is an exception to this though. If in your policy you had checked for the MWPA provision, then only your wife and children will get the insurance money. In this case, the nominee mentioned in your Will (if different than your wife or children) will not get the insurance money.