Viatical settlement definition at Dictionary.com, a free online dictionary with pronunciation, synonyms and translation.

If you have a life expectancy of greater than 24 months, you can look into the option of receiving a life settlement. Viatical Settlement A transaction in which a life insurance policy holder sells his/her policy to a third party. Under a viatical settlement, a life insurance policyholder works with a settlement company (also called a settlement provider) or with a broker to sell their policy for a one-time cash payment. To qualify, the policyholder must agree to share certain medical and personal information with prospective buyers of … A viatical settlement is an advance of your death benefit, and the IRS may treat it as such, meaning, a viatical settlement may not be considered taxable income. Look it up now! Meaning of Viatical settlement.

Otherwise, brokers risk losing their license. (3) Viatical settlements are a specialized form of receivable financing under which viatical settlement companies buy from the policyholder, at a discounted rate, the right to receive death benefits under life insurance policies. Definition of Viatical settlement in the Definitions.net dictionary. A viatical settlement occurs when a life insurance policy owner sells their policy to a third party for a fraction of the payout amount. Viatical settlement brokers have a “fiduciary” responsibility, meaning they are required to prioritize the needs of the policyholder.

viatical settlement definition, meaning, English dictionary, synonym, see also 'viaticum',vicarial',vaticinal', Reverso dictionary, English definition, English vocabulary viatical definition: relating to the sale of life insurance policies sold by a dying person to someone else at a price…. Viatical settlement means a transaction between a viator and a viatical settlement provider in which the viatical settlement provider pays compensation or other value in return for the viator's assignment, transfer, sale, devise or bequest to the viatical settlement provider of the ownership of, or the death benefit payable under, a life insurance policy or a certificate. viatical settlement: The purchase of a terminally ill person's life insurance policy for a certain percentage of the policy's face value. settlement. The situation occurs when the policy's fair market value exceeds the cash surrender value that the insurance company offers. Learn more. (3) Viatical settlements are a specialized form of receivable financing under which viatical settlement companies buy from the policyholder, at a discounted rate, the right to receive death benefits under life insurance policies.

Meaning of Viatical settlement. Viatical settlement means a transaction between a viator and a viatical settlement provider in which the viatical settlement provider pays compensation or other value in return for the viator's assignment, transfer, sale, devise or bequest to the viatical settlement provider of the ownership of, or the death benefit payable under, a life insurance policy or a certificate.