| / English Dictionary |
VIATICAL SETTLEMENT
| Pronunciation (US): |  | (GB): | |
I. (noun)
Sense 1
Meaning:
Sale of an insurance policy by a terminally ill policy holder
Synonyms:
viatical settlement; viaticus settlement
Classified under:
Nouns denoting acts or actions
Hypernyms ("viatical settlement" is a kind of...):
liquidation; settlement (termination of a business operation by using its assets to discharge its liabilities)
Sense 2
Meaning:
Cash derived from sale of an insurance policy by a terminally ill policy holder
Classified under:
Nouns denoting possession and transfer of possession
Hypernyms ("viatical settlement" is a kind 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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