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viatical settlement
(redirected from viatical)

   Also found in: Dictionary/thesaurus, Legal, Financial, Wikipedia 0.03 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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Viatical life settlements are the latest craze with investors It seems making money off of one''s death has become even easier with viatical life settlements- and for investors it often pays out fairly well under good circumstances Viatical life settlements are the latest craze with investors.
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.
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.
 
 
 
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