(a) The proceeds of the insurance must be payable to the policyholder.
(b) Payment to the policyholder reduces or extinguishes the debtor's unpaid indebtedness to the extent of the payment. In the case of a debtor under a loan or loan commitment described by Section 1131.455(b), any insurance proceeds in excess of the indebtedness to the creditor are payable:
(1) to the debtor's estate; or
(2) under a facility of payment clause.