Definitions
from The American Heritage® Dictionary of the English Language, 5th Edition.
- adjective Of or relating to traveling, a road, or a way.
- adjective Of or relating to a contractual arrangement in which a business buys life insurance policies from terminally ill patients for a percentage of the face value.
from Wiktionary, Creative Commons Attribution/Share-Alike License.
- adjective Of or pertaining to a
journey ;viatic - adjective Describing the purchase of an
insurance policy from a holder who is terminally ill
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- adjective pertaining to the purchase of insurance policies from terminally ill policy holders
Etymologies
from The American Heritage® Dictionary of the English Language, 4th Edition
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Examples
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A life settlement sometimes called a "viatical settlement" or even "senior settlement" originates when a life insurance policyholder, often an elderly or terminally ill person, sells his or her interest in the policy to a third party, usually at a level that's well below the policy's stated death benefit.
unknown title 2011
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This type of transaction is called a viatical life settlement.
Guerrilla Marketing 2009
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Enter Jesse Bogdonoff, an American employee at the bank who convinced the king to invest the money in a pool of insurance backed investments called viatical contracts, managed by Millennium Asset Management.
Gothamist 2008
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If you Google the words "viatical" and "scam" or "viatical" and "fraud," you'll eventually come upon stories about Florida Democrat Bill Nelson, who found himself embroiled in the middle of a viatical settlement scandal (read this, for example).
terryfrank.net 2009
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I thought they were already doint this with viatical settlements?
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As the residents aged, as the Hillside Home began to market itself to a sicker population, Gary used the band's appearances to evaluate acquisitions for his brother's viatical funds.
Chameleon Andrew Clarke 2011
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As he looks into the circumstances surrounding the death, he learns about viatical settlements.
Who’s Thrilling You Now? –The New Guns of the Thriller Genre; an Author Panel 2009
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It is, if you invest in a life insurance product called a viatical.
Who’s Thrilling You Now? –The New Guns of the Thriller Genre; an Author Panel 2009
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Investor funds collected by American Benefits were forwarded to another viatical (death futures) settlement company, Financial Federated Title & Trust, which spent only $6 million to buy interests in actual life insurance policies.
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Patients needed money for treatment and viatical settlements provided the perfect vehicle for that.
A Killer Idea 2007
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