viatical
- noun
- /vaɪˈætɪkəl/
- Specialized
:
viático
- Investors may purchase viaticals to gain financial benefits from life insurance policies held by terminally ill individuals.
Examples
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A viatical allows a policyholder to sell their life insurance policy for immediate cash to cover urgent expenses.
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Structured settlements, bankruptcy fund outs, viaticals, and even lottery winnings are viable funds; just a simple family house, name it, and Roseville real estate surely has it.
Blog text (8) -
A viatical transaction can provide necessary funds to someone facing high medical bills before their passing.
Synonyms
An agreement where a very ill person sells a life insurance policy for money now
Selling a life insurance policy to get money when very sick and likely to die soon
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 meant 'travel money', the same root as the English word via, which means 'by way of'. Think of it as money for a final journey, so a viatical is the sale of a life-insurance policy for cash before death.
