Viatical settlement

Term · Insurance and risk management · MLC-T-INS-003482

The sale of a life insurance policy by a terminally ill policyholder to a third party for a cash payment less than the policy's face value. The buyer, known as a viatical provider, becomes the new owner and beneficiary, paying future premiums and collecting the death benefit upon the original insured's passing. This provides immediate liquidity to the insured.

Table 1. Record
Identifier	MLC-T-INS-003482
Field	Insurance and risk management

Record as JSON

{
  "id": "MLC-T-INS-003482",
  "term": "Viatical settlement",
  "field": "Insurance and risk management",
  "definition": "The sale of a life insurance policy by a terminally ill policyholder to a third party for a cash payment less than the policy's face value. The buyer, known as a viatical provider, becomes the new owner and beneficiary, paying future premiums and collecting the death benefit upon the original insured's passing. This provides immediate liquidity to the insured.",
  "url": "https://mlchart.com/terminology/insurance/viatical-settlement/"
}

Record 3,562 of 3,682 in Insurance and risk management terminology (MLC-0106). Request the full dataset.