A representative payee is an individual or organization who receives and manages Social Security or Supplemental Security Income (SSI) payments for someone who is unable to manage their own benefits.

The insured or the party entitled to payment is the loss payee—the party to whom the claim from a loss is to be paid.

A representative payee manages Social Security benefits for someone who is under 18, has physical or cognitive limitations or otherwise can't do so themself.

Becoming a payee representative The first step is to contact the local Social Security office to schedule an interview. In normal times, this would be a face-to-face appointment. However, Social ...

You also have the option to identify, in advance, up to three individuals you trust to serve as your future representative payee and help manage your benefits, if the need arises. We call this ...

A loss payee is the person or institution that receives the insurance payment from a loss. The loss payee is a legal definition used to cover the investment of other parties when you lose property.

Loss Payee Versus Lender’s Loss Payee: One Word Can Make All The Difference By Niel Alden June 2016 When a lender makes a loan secured by personal property, it will perfect its interest in the ...