What does viaticus settlement mean?
Definitions for viaticus settlement
vi·ati·cus set·tle·ment
This dictionary definitions page includes all the possible meanings, example usage and translations of the word viaticus settlement.
Princeton's WordNet
viatical settlement, viaticus settlementnoun
sale of an insurance policy by a terminally ill policy holder
ChatGPT
viaticus settlement
A viatical settlement is a type of financial agreement where a person with a terminal or chronic illness sells their existing life insurance policy to a third party for a lump sum of cash. The third party, usually a viatical settlement company, becomes the beneficiary of the life insurance policy and collects the full amount once the original policyholder passes away. The cash amount paid to the policyholder is usually less than the death benefit of the policy but more than its cash surrender value. This arrangement helps those who are facing high medical expenses or financial hardship.
Matched Categories
Numerology
Chaldean Numerology
The numerical value of viaticus settlement in Chaldean Numerology is: 4
Pythagorean Numerology
The numerical value of viaticus settlement in Pythagorean Numerology is: 3
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"viaticus settlement." Definitions.net. STANDS4 LLC, 2024. Web. 25 Apr. 2024. <https://www.definitions.net/definition/viaticus+settlement>.
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