Concept information
Preferred term
viatical settlements
Definition
- The word viatical comes from the Latin word viaticum, which means “provisions for a long journey.” A viatical settlement is the sale of a life insurance policy to a third party (the provider) at a discount (less than face value or death benefit). Ownership of the policy passes to the provider. [Source: Encyclopedia of Death and the Human Experience; Viatical Settlements]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/viatical_settlements
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