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viatical settlement
(redirected from viatical settlements)

    Also found in: Legal, Financial, Encyclopedia, Wikipedia 0.01 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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As the emphasis changed, the terminology changed from viatical settlements to life settlements.
Money for your life (insurance): selling a policy for cash is not as ... by Morton, Heather / State Legislatures
The viatical settlements industry try was born in the 1980s in response to the AIDS crisis, when dying patients desperately needed cash to pay for expensive treatment.
Affirming viatical settlement laws: the NAIC developed the viatical ... by Darras, Frank N. / Best's Review
Contrary to the early days when viatical settlements were primarily utilized by the terminally ill, today many affluent seniors may be eligible to sell their life insurance benefits pursuant to what is now known as a senior or a life settlement.
Viatical settlements in Florida: new issues for estate planners by Ziegler, Stephen L. / Florida Bar Journal
 
 
 
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