If there is no one named as beneficiary in a life policy will it go to next of kin?

No, it will go as part of the estate of the deceased (as set out in the will). If there is no will then the estate (including the life policy payout) will be handled by the state and distributed as required by your local state/country laws.

Thus if the deceased had debts on death and the insurance beneficiary was NOT identified in the policy, the payout will go towards settling the debts first (after the funeral expenses).