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viatical settlement

   Also found in: Legal, Financial, Encyclopedia, Wikipedia 0.04 sec.
viatical settlement
n
(Business / Insurance) the purchase by a charity of a life assurance policy owned by a person with only a short time to live, to enable that person to use the proceeds during his or her lifetime See also death futures
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.viatical settlement - cash derived from sale of an insurance policy by a terminally ill policy holder
advance death benefit - a percentage of death benefits paid directly to policy holders having a short life expectancy (usually 6 months)
2.viatical settlement - sale of an insurance policy by a terminally ill policy holder
viaticus settlement
liquidation, settlement - termination of a business operation by using its assets to discharge its liabilities


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