- viatical
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b) Describing the purchase of an insurance policy from a holder who is terminally ill
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viatical
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viatical — UK US /vaɪˈætɪkəl/ adjective INSURANCE ► relating to the sale of life insurance policies sold by a dying person to someone else at a price lower than the value of the policy: »The viatical investor paid $80,000 for the $100,000 life insurance… … Financial and business terms
viatical — (adj.) 1847, from L. viaticus, from via way (see VIA (Cf. via)) + AL (Cf. al) (1) … Etymology dictionary
viatical — adjective pertaining to the purchase of insurance policies from terminally ill policy holders viatical business viatical companies National Viatical Association • Pertains to noun: ↑viatication • Derivationally related forms: ↑viaticus, ↑ … Useful english dictionary
viatical — vi·at·i·cal vī at i kəl adj of, concerned with, or dealing in viatical settlements <adding provisions to the state s viatical law to better protect consumers (J. T. Fakler)> … Medical dictionary
viatical — noun see viatical settlement … New Collegiate Dictionary
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 — 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 — 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 — 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 — 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
