| 单词 | viatical settlement |
| 释义 | viatical settlement in British Englishnoun 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 futuresviatical settlement in Insurance (vaɪætɪkəl sɛtəlmənt) Word forms: (regular plural) viatical settlements noun Word originsThis term comes from the word Viaticum, which is the communion given, especially inthe Roman Catholic church, to a person who is on the point of death. Viaticum is aLatin word meaning 'provisions for a journey'.(Insurance: Life insurance) 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 usethe proceeds during their lifetime. In a viatical settlement, a terminally ill policyholder sells their life insurance policy and names the buyeras beneficiary and owner. A viatical settlement involves the purchase of a life insurance policy from an elderly or terminally illpolicyholder. In a viatical settlement, a third party buys a life insurance policy owned by a person with only a short timeto live, so that the person can use the proceeds during their lifetime. |
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