Definitions for "Loss Payee"
Should your car become damaged in an accident, the loss payee is the entity who will receive the payment from your insurance company.
A secured party to whom insurance proceeds are paid as stipulated in a loss payee clause of an insurance policy obtained by a debtor and covering property owned by a debtor and pledged to the secured party. Generally applies to personal property.
The person designated on an insurance policy to be paid in case the insured property is damaged or destroyed.
Keywords:  lots, ratio
Typically the finance company holding title to the owned auto.
The individual or entity named to receive all benefits.