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viatical settlement
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 See also death futures
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Example Sentences
Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.
Q: Is a viatical settlement a good way to get some money?
Read more on Seattle Times
But that is precisely what could happen when someone sells their own life insurance policy to a third party - a procedure known as a viatical settlement.
Read more on BBC
A: A viatical settlement is when an investor buys a terminally ill person’s life-insurance policy.
Read more on Seattle Times
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