viatical settlement — vi·at·i·cal settlement /vī a ti kəl / n [probably from Latin viaticum provision for a journey]: an agreement by which the owner of a life insurance policy covering a person (as the owner) with a catastrophic or life threatening illness receives… … Law dictionary
Viatical settlement — A viatical settlement is the sale of a life insurance policy by the policy owner before the policy matures. Such a sale, at a price discounted from the face amount of the policy but usually in excess of the premiums paid or current cash surrender … Wikipedia
Viatical Settlement — An arrangement in which someone with a terminal disease sells his or her life insurance policy at a discount from its face value for ready cash. The buyer cashes in the full amount of the policy when the original owner dies. Also referred to as a … Investment dictionary
viatical settlement — viatical set·tle·ment set əl mənt n an agreement by which the owner of a life insurance policy that covers a person (as the owner) who has a catastrophic or life threatening illness receives compensation for less than the expected death benefit… … Medical dictionary
viatical settlement — noun Etymology: probably from viaticum Date: 1991 an agreement by which the owner of a life insurance policy that covers a person (as the owner) who has a catastrophic or life threatening illness receives compensation for less than the expected… … New Collegiate Dictionary
viatical settlement — Arrangement by which a terminally ill patient s life insurance policy is sold to provide funds while the insured (viator) is living. The buyer (funder), usually an investment company, pays the patient a lump sum of 50–80% of the policy s face… … Universalium
viatical settlement — [vʌɪ atɪk(ə)l] noun an arrangement whereby a person with a terminal illness sells their life insurance policy to a third party, in order to benefit from the proceeds while alive. Origin 1990s: viatical from L. viaticus relating to a journey or… … English new terms dictionary
viatical settlement — noun 1. cash derived from sale of an insurance policy by a terminally ill policy holder • Hypernyms: ↑advance death benefit 2. sale of an insurance policy by a terminally ill policy holder • Syn: ↑viaticus settlement • Hypernyms: ↑liquidation, ↑ … Useful english dictionary
settlement — /set l meuhnt/, n. 1. the act or state of settling or the state of being settled. 2. the act of making stable or putting on a permanent basis. 3. a state of stability or permanence. 4. an arrangement or adjustment, as of business affairs or a… … Universalium
viatical — noun see viatical settlement … New Collegiate Dictionary
