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WordNet-Online
Definitions from WordNet
Noun viatication has 1 sense
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Definitions from the WebViaticationDescription:Viatication refers to the process of selling one's life insurance policy to a third party for a lump sum of money before the policyholder's death. It is typically done by individuals facing a serious illness or in need of immediate funds. Viatication offers a way to access funds that would otherwise be locked in the policy until the policyholder's passing. Examples of Usage:Noun - Financial Transactions:"John decided to explore the viatication option to help cover his medical expenses." "Viatication can provide a financial solution for terminal patients who need immediate funds." Noun - Life Insurance Industry:"The viatication market has grown significantly over the past decade, providing unique investment opportunities for buyers." "Many life settlement companies specialize in viatication and offer competitive rates to policyholders." Verb - Selling Life Insurance Policy:"She viaticated her life insurance policy to secure the necessary funds for her child's education." "The policyholder can choose to viaticate the policy and receive a lump sum payment instead of waiting for the maturity." Related Products on Amazon: | ||||
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