viaticus

9.9

Buying a very sick person's life insurance to collect the money when they die

noun
/vaɪˈætɪkəs/

Specialized

: viaticus

With viaticus, clients trading their life insurance can access funds to help with medical expenses and other urgent needs.

Examples

In addition to helping your clients meet basic living expenses, Viaticus can help them achieve planning goals, even providing additional funds for investment.

Academic text (1997)
Viaticus is a valuable resource that can open the door to new financial possibilities for clients living with a serious illness.

Academic text (1997)
Using viaticus, terminally ill policyholders can sell their life insurance policies at a discounted price for immediate cash.
In viaticus transactions, investors buy life insurance policies from individuals with serious illnesses, enabling them to gain immediate financial support.

Synonyms

viatication

vsviaticus

Specialized

9.9

To buy life insurance from a very sick person for cash

prioritizes obtaining policies at a discount to collect benefits later

Compounds

viaticus settlement

Specialized

9.9

Selling a life insurance policy to get money when very sick and likely to die soon

Surface Forms

viaticus singular

viatici plural

Etymology

Viaticus comes from the Latin words via ('road') and viaticum, which was the money or food a traveller took with them on a journey. Because viaticum later came to mean what a dying person needed for their 'final journey', viaticus is used today for the buying of life policies from people near death — money tied to someone's last trip.