viaticus settlement
- noun
- /vaɪˈætɪkəs ˈsɛtəlmənt/
- Specialized
:
liquidación viatica
- The family decided on a viaticus settlement to manage medical expenses in his final months.
Examples
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Some companies specialize in purchasing insurance policies through viaticus settlements from terminally ill policyholders.
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A viaticus settlement allows terminally ill individuals to sell their life insurance policies for cash while they are still alive.
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A viaticus settlement can provide immediate funds that would otherwise be inaccessible until after death.
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A viaticus settlement can provide immediate cash for medical expenses.
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Many terminally ill patients consider a viaticus settlement as a financial option.
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To alleviate their financial burden, the family chose a viaticus settlement to help pay for his treatment expenses.
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With a viaticus settlement, the policyholder can access funds that might be needed for urgent care rather than waiting for the death benefit.
Synonyms
An agreement where a very ill person sells a life insurance policy for money now
The sale of a life insurance policy for quick cash
Surface Forms
Morphology
The noun combines a specialist term 'viaticus' (the practice of acquiring life‑insurance policies from terminally ill people) with 'settlement' (a sale or payment), so the basic idea of selling such a policy is inferable from the parts. However, 'viaticus' is a rare, technical item and the specific legal/financial nuances (discount vs death benefit, contractual details) are not predictable for a B1 learner, making the expression only partially transparent.
Etymology
Viaticus settlement comes from an old Latin word viaticus meaning 'money for a journey'. The image is getting cash for a 'last journey', so a viaticus settlement today means selling a life insurance policy to get money while someone is dying.
