viatical settlement

/vaɪˌædəkəl ˌsɛdlmənt/
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Definitions of viatical settlement
  1. noun
    sale of an insurance policy by a terminally ill policy holder
    synonyms: viaticus settlement
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    type of:
    liquidation, settlement
    termination of a business operation by using its assets to discharge its liabilities
  2. noun
    cash derived from sale of an insurance policy by a terminally ill policy holder
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    type of:
    advance death benefit
    a percentage of death benefits paid directly to policy holders having a short life expectancy (usually 6 months)
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