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WordNet-Online
Definitions from WordNet
Noun viaticus settlement has 1 sense
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Definitions from the WebViaticus SettlementDescription:A viaticus settlement refers to a financial transaction in which a person with a life-threatening illness sells their life insurance policy to a third-party investor in exchange for a lump sum payment. This practice provides the policyholder with immediate cash to cover medical expenses or other financial needs, while the investor assumes the future benefits of the policy. Sense 1 - Noun:In the context of finance and insurance, viaticus settlement commonly refers to the sale of a life insurance policy by a terminally ill policyholder. Example sentence: Jane decided to pursue a viaticus settlement as she required funds to cover her mounting medical bills. Sense 2 - Adjective:Popularly used to describe a financial arrangement involving viaticus settlement. Example sentence: John's viaticus settlement agreement helped him cope with the financial burden caused by his illness. Sense 3 - Adverb:Locally, viaticus settlement is commonly used to describe the act of selling a life insurance policy under urgent circumstances. Example sentence: The local community was supportive of the family's decision to pursue viaticus settlement to provide immediate financial relief. Related Products:Find helpful resources on viaticus settlement: | ||||
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