viatical settlement in English
noun
1
an arrangement whereby a person with a terminal illness sells their life insurance policy to a third party for less than its mature value, in order to benefit from the proceeds while alive.
In a viatical settlement , a person with a terminal disease sells his or her life insurance policy at a discount from its face value in exchange for ready cash.
Use "viatical settlement" in a sentence
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1. A viatical settlement is a repugnant, predatory arrangement whereby a terminally ill patient signs away their future life insurance payment in exchange for a monthly cash advance.