as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
system
home loan: loss payable clause in favor of lender for home insurance?
user
here's a good rule of thumb. in any situation where you are required to purchase insurance (auto liability, property mortgage insurance, etc.) you can safely assume that you aren't the primary beneficiary. you are being required to buy that insurance to protect someone else's investment.
assistant