Meaning Of The Word Viatical settlement

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Viatical settlement Meaning

Viatical settlement Definition
Viatical settlement Definition

What's The Definition Of Viatical settlement?

viatical settlement in British English
noun: 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

viatical settlement in Insurance
noun: In a viatical settlement, a third party buys a life insurance policy owned by a person with only a short time to live, so that the person can use the proceeds during their lifetime.

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