viatical
1
9.9
- adjective
- /vaɪˈætɪkəl/
- Specialized
:
viático
- viatical settlement
- viatical company
- viatical industry
Examples
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As the nation's leading viatical settlement company, we enable eligible individuals to sell their life insurance policies for a percentage of the total face value, often without federal tax obligations.
Academic text (1997) -
Many terminally ill individuals consider a viatical settlement to manage their medical expenses.
-
The viatical market allows policyholders to receive funds by selling their life insurance policies.
-
Companies offering viatical contracts often provide cash in exchange for life insurance policies held by those with serious illnesses.
Compounds
- Specialized
An agreement where a very ill person sells a life insurance policy for money now
Surface Forms
Etymology
Viatical comes from the Latin viaticum, from via 'road' and originally meant 'money or supplies for a journey', the same root as the English word via, which means 'by way of'. So a viatical deal is like giving money for a person's final journey, which is why the adjective viatical describes life-insurance settlements made before death.