Famous Viatical Settlements Ideas. Web viatical settlement an arrangement whereby a person with a terminal illness sells their life insurance policy to a third party for less than its mature value, in order to benefit from the. The meaning of viatical settlement is an agreement by which the owner of a life insurance policy that covers a person (such as the owner).
This can provide peace of. The third party becomes the new owner of the policy, pays the monthly premiums, and receives the full benefit of the policy when the insured dies. The buyer of a viatical settlement pays more than the.
