Word templates offer a good starting point for documents you may be required to mass-produce e.g. a document explaining IT strategy or architecture for multiple organizations. However they may not work well out-of-the-box.
Things to look out for:
1. Word templates may do funny stuff with margins. This is to create interesting and effective custom alignments - particularly for cover sheets. However, you may want to use more standard margins for the broader document if you need a more traditional, essay-style flow for your document. For this go to Layout and explore the various Margins, ranging from Narrow, Moderate, Wide up to Custom Margins.
2.Colour schemes. May be garish. Decide if you want to tone down the schemes for ease of printing. Or perhaps go the other way and tone up for maximum impact.
In short, expect to do a great deal of customisation, even if you have a standard template ready-to-run.
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