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viatical settlement
(redirected from Life settlement)

    Also found in: Dictionary/thesaurus, Legal, Financial, Wikipedia 0.01 sec.

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 value, pays the premiums until the patient dies, and receives the death benefit. Viatical settlements (from Latin viaticum, “provisions for a journey”) appeared in the 1980s, when people with AIDS had high medical bills and policies nominally sufficient to cover them but whose funds would not be available until they died.
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In almost all cases, a senior life settlement will be less than the policy?
Senior Life Settlements Free Money for Seniors by Mike Evans / Finance and Investment community
A life settlement is a transaction in which a third-party investor buys an existing life insurance policy from the owner, who is usually also the insured, for less than the face amount but more than the cash surrender value.
One second thought ... For insurers, the life settlement market they ... by Cavanaugh, Bonnie Brewer / Best's Review
LIFE SETTLEMENTS--WHAT THEY ARE AND AREN'T A life settlement turns insurance assets into cash, giving the original policyholder an amount greater than the cash surrender value in exchange for ownership of the policy.
Turn unneeded policies into cash: a life settlement can be a better ... by Warring, James D. / Journal of Accountancy
 
 
 
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